Rangers chairman Dave King has promised a significant player recruitment budget will be made available to new manager Steven Gerrard and insists it is not dependent on securing fresh external investment.
“The source of it doesn’t matter,” said King.
“The share rights issue is one of the things we are pursuing but it is not critical. The funding will be made available, whether it is through a rights issue or otherwise.”
The identification and pursuit of Gerrard as Rangers’ preferred managerial candidate was led by director of football Mark Allen.
“It was very clear to me,” said Allen. “Steven is a winner, a leader, a character.
“Those are the essential ingredients in management, period, and he has them in abundance. I have no doubts we have made the right appointment.”