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Rangers 'financially secure'

Rangers director Brian Stockbridge insists the club are financially secure amid reports of further problems at Ibrox.

Last Updated: 02/10/13 at 19:54 Post Comment

Rangers: No financial problems at Ibrox, insists Rangers director

Rangers: No financial problems at Ibrox, insists Rangers director

Stockbridge insists there is no need to raise cash just to keep the Scottish League One club going after they announced £14.4m operating losses for a 13-month period.

The finance director predicted far better financial results next year following cuts and the end of certain non-recurring expenditure.

He told the club's website: "It's not possible that the club is going to go into administration. The club is financially secure.

"We have got cash in the bank, we have no debt, we have got a clean audit report.

"As we go forward, of course there will be investment required to move the club forward as we go through the divisions and up.

"But we are not in financial distress, we don't need to raise cash at the moment."

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