MX23RW : Friday, May 3 01:42:53| >> :600:267493:267493:

Rangers announce club 'mismanaged cash reserves' in 120-day review

Rangers reveal in their 120-day review into the club's finances that they have just £3.5m left from the £70m raised since May 2012.

Rangers chief executive Graham Wallace has revealed that the club "mismanaged" almost all of their cash reserves after coming out of liquidation two years ago.

The Scottish outfit's 120-day review into their finances was released on Friday, detailing that £3.5m from the £70m raised since May 2012 was all that remained in December.

The Stock Exchange received the document, which claimed that the club plans to raise £30m over the next three years, but has warned that the club could be threatened should money be withheld from season-ticket sales.

Wallace also claimed in the review that they will not have to cut down the playing budget for manager Ally McCoist.

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Rangers manager Ally McCoist looks on from the stand during the pre season friendly match between Rangers and Newcastle United at Ibrox Stadium on August 06, 2013
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Tables header RHS
TeamPWDLFAGDPTS
Championship Group
1Celtic110082275581
2RangersRangers110074245078
3Hearts101046341263
4Kilmarnock10104334952
5St Mirren10013945-643
6Dundee10014556-1141
Relegation Group
1Hibernian11004752-542
2Aberdeen11003649-1338
3Motherwell10014652-637
4St Johnstone10012549-2431
5Ross County10013258-2630
6Livingston11002459-3521
 
First Phase
1Celtic33246380265478
2RangersRangers33243672234975
3Hearts33195946341262
4Kilmarnock33131284334951
5St Mirren33127143843-543
6Dundee331011124454-1041
7Hibernian33912124451-739
8Motherwell33813124651-537
9Aberdeen33811143549-1435
10St Johnstone33710162446-2231
11Ross County3379173256-2430
12Livingston3339212259-3718


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