SIR David Murray has admitted Rangers could take over the running of the club shops again if JJB goes bust.
Murray defended the Ibrox club's decision to hand the rights to sell official Gers merchandise to the chain of sports shops in an £18million deal at the AGM yesterday.
However, the millionaire businessman has admitted he has been unhappy with the company's performance and revealed there is a Plan B' which will see the Glasgow giants regain control.
He said: "Financially, the JJB deal is still a good one. The payments are spread over 10 years and that guarantees the club £1.8 million a year. There are other elements to it as well.
"However, there is no doubt JJB are not keeping their side of the bargain. There is a problem there. There has to be a question mark over the long-term viability of the company.
"I still think it was a good deal, but we have a Plan B to take ownership back into the club. That will only happen if JJB go out of business."
Elsewhere, Murray told supporters the club will not splash the cash on new players in the January transfer window to help Walter Smith's side in their bid to prise the SPL title away from Old Firm rivals Celtic.
The Gers are currently just behind the Hoops at the top of the league table on goal difference and many fans would like to see a further investment in personnel to boost their chances of success.
But Murray declared: "We are not going to be net spenders this season. The fact of the matter is we have not made Europe.
"We have spent some money and, if the team is fit, we will be in there fighting at the end. But the fact remains that we must live within our means.
"We have to make the debt static and we can't be a spending club right now. There has to be good housekeeping."
Meanwhile, Rangers chief executive Martin Bain has urged SPL clubs to accept the merits of the 5 per cent away ticket surcharge implemented on them by Rangers and Celtic this season.
The Old Firm announced their intention to impose the handling fee for the distribution of their fans' tickets at other grounds on behalf of opposition clubs in the summer.
Bain said: "The five per cent levy was introduced and promoted by this football club to advantage Rangers supporters, not disadvantage them.
"A total of £2.5 million worth of tickets is sold (by Rangers) on behalf of other SPL clubs which benefit them and their economy.
"Rangers supporters, in recent times, have paid for that by way of a booking fee and it was our sole intention to alleviate that cost to our supporters.
"We also want to make other clubs in the SPL realise this football club and our supporters will not subsidise them without recognition."
"SPL clubs do not recognise what the number of travelling Rangers supporters bring to the economy. It is about time they did and it is my intention they stop disadvantaging our supporters by putting prices up."