MX23RW : Friday, September 21 12:33:02

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.

Share this article now:
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
Read Next:
McCoist keen to keep squad together
>

Loading ...

Failed to load data.

Loading ...

Failed to load data.

Select and display your favourite team's news and scores in this panel

Loading ...

Failed to load data.

Loading ...

Failed to load data.

Select and display your favourite team's news and scores in this panel

Subscribe to our Newsletter


Transfer Talk Daily
Match previews - twice weekly
Morning Briefing (7am UTC)
Ultra close-up image of Kevin De Bruyne [NOT FOR USE IN ARTICLES]Get the latest transfer news, match previews and news direct to your inbox!
Tables
TeamPWDLFAGDPTS
1Hearts5500112915
2Celtic531152310
3Livingston531164210
4RangersRangers522110558
5Hibernian52219638
6St Johnstone52215508
7Kilmarnock52126427
8Aberdeen513145-16
9Motherwell511369-34
10St Mirren511339-64
11Hamilton AcademicalHamilton510438-53
12Dundee5005211-90

Loading ...

Failed to load data.

Loading ...

Failed to load data.

Select and display your favourite team's news and scores in this panel
Login, I already have my ad-free pass
Log in to customise Sports Mole
Buy ad-free access (show me the options)
Buy monthly ad-free access for £1.20/month
Buy yearly ad-free access for £12 (2 months free)
Settings - Logout - Manage your account
Settings - Logout - Manage your account