RANGERS newco could be facing potential cash flow problems after one of Scotland's biggest banks refused to back financing plans.
Reports claimed that the Royal Bank of Scotland refused to underwrite a £2.6million overdraft which would have paid out season ticket money to new owner Charles Green's Sevco before direct debits were recouped from fans.
FastPay, a Manchester-based direct debit services firm brought in to handle season ticket holders' renewals, was refused the overdraft and advised to have no dealings with the owners of Rangers assets, Charles Green's consortium.
RBS is understood to be concerned at the current uncertainty over the club's future.
It is believed that other bigger banks shared that concern after it emer- ged that Rangers hired Metro Bank as its corporate bank. Metro is a new arrival on the UK banking scene, and as yet has no presence in Scotland.
Andy Kerr of the Ran- gers Supporters Assembly said: "You can understand RBS's position. If they haven't been involved with the club previously, they are going to say it looks like a big risk. It's worrying that we can't get a stable financial arrangement."
Last week fans complained that FastPay was trying to debit their accounts, despite the fact that some fans had already told the club they wanted to cancel.
A spokesman for the club said it had reviewed arrangements "primarily because of confusion and concern among supporters".
"We have decided not to accept direct debits for the forthcoming season," he added.
RBS declined to comment and FastPay was unavailable for comment.
Scottish football clubs will vote on Wednesday whether or not to allow a Rangers newco into the SPL, though several clubs have already indicated that they will block the move.