Rangers secure banking facility with Close Brothers

Rangers have secured a banking facility for the first time since David Murray was owner of the Ibrox club, according to the Scottish Sun.

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Dave King and the board have received a significant boost after coming to an agreement with Close Brothers, a merchant banking group.

The club haven’t had a credit facility since Murray sold Rangers for £1 to Craig Whyte back in 2011.

King has previously admitted that soft loans from directors were required to keep everything running.

This lending facility arrangement should now give the board greater financial flexibility.