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New chairman Malcolm Murray has promised to use his experience at Manchester United to rebuild Rangers following their liquidation.
The Ayrshire-born pension fund manager was swiftly appointed to the board after Charles Green's consortium completed the purchase of the business and assets of Rangers as a newco on Thursday.
Murray, a Rangers season-ticket holder, had stewardship of a 25% shareholding in Manchester United before their title dominance in the early 1990s.
The 57-year-old believes that experience will be crucial in reviving the Light Blues and pledged to ensure financial stability and transparency are key ingredients in re-establishing the crisis-hit club.
"It's a fantastic honour. I can't be a player now and I can't be the manager so being chairman is probably the best thing I could do," Murray told Rangers TV.
"We need to bring financial stability, probity and transparency to this football club and bring our great name back to the reputation it had.
"Since Valentine's Day, I've probably been awake every night over things here, as everyone in this great stadium has been.
"Hopefully I'll bring integrity and honesty to my position. I've been involved in taking big stakes in companies and helping the management in the past.
"Of particular relevance is the Manchester United stake. I was equal to Martin Edwards (in terms of his holding) at the time. I worked with him and David Gill for many years.
"It was an iconic, global brand and that's what Rangers is. With a different Sky deal we'd be just as big."
Much uncertainty remains over the newco club, though, with next month's vote over whether to grant them a place in the Scottish Premier League next season the most significant.
Regulations require two weeks notice to be given before holding a general meeting, where SPL clubs will decide on the issue.
The Rangers crisis is likely to be discussed at Monday's SPL board meeting, however July 2 is the earliest date that a general meeting can be convened for the newco vote.
Murray admits any planning will have to be put on hold before then.
"There are so many uncertainties that it's difficult to say what our business plan is. We don't know what league we're playing in and we have to take some sort of punishment," he said.
"But we have to make sure we don't spend more than we earn and it will be run as a debt-free, cash-generated business.
"Any company is only as good as its customers and the fans are important to a football club. We are crowd-driven, although I've no doubt TV revenue will go up in the future."
While Murray he has no previous association with consortium leader Green, who will take over as chief executive, he has backed the boardroom staff he has assembled to rebuild Rangers.
Murray has worked with both chief financial officer Brian Stockbridge as well as new non-executive director Imran Ahmad of stockbrokers Zeus Capital.
"I'm leaning on this management team which I think is good but it will not step out of line on my watch whatsoever," he said.
"Zeus Capital I know from a way back and one of their senior guys was involved in Manchester United's floatation.
"In my opinion, he is one of the most honest and intelligent guys I've ever met in investment. He and I spoke two weeks ago about this and hopefully he can help.
"I don't know Charles Green but he is a dynamic sort of guy and the board is balanced now, whereas I don't think we have had that in the past.
"It's going to be run as closely to a PLC as you can get rather than as an egocentric football-type management.
"The prospective finance director is a very steady guy who I've spent a lot of time with. Excesses will not happen here."