18 Jun 2010'Business as usual' for Rangers

Football Clubs News | Football Finance News

Rangers chairman Alistair Johnston has sought to reassure worried football fans after discussions with property developer Andrew Ellis over a possible takeover deal fell through earlier this week.

The Scottish Premier League champions are burdened by debts of around £30 million, but talks between Ellis and the board of directors collapsed and majority shareholder Sir David Murray has suggested he is no longer interested in selling his stake.

"I must emphasise to our fans that it is business as usual and acknowledge that the board is very appreciative of [the fans'] patience and support over recent months relating to the uncertainty of [Rangers'] future," Johnston said.

The chairman echoed Murray's earlier claims that a new agreement has been reached with Lloyds Bank to allow the club to strengthen the playing squad and tie down members of the backroom staff to new deals.

Johnston insisted it is "business as usual" for Rangers and denied a change of ownership is necessary for the Ibrox side to progress.

Written by Terry Mitchell

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