Rangers boss Ally McCoist 'not worried about finances'

Ally McCoist believes Rangers are doing "reasonably well" financially despite the club being in talks over securing a £1.5million loan.

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Ally McCoist was able to enjoy a laugh with Bilel Mohsni at Murray Park on Friday
Ally McCoist was able to enjoy a laugh with Bilel Mohsni at Murray Park on Friday

The Light Blues boss has been told the loan is part of the club's business plan following reports of the cash injection from directors Sandy and James Easdale and major shareholder Laxey Partners.

Despite the need for the extra funds, McCoist has no fears about a second administration for Rangers - who lost £14.4million in the first 13 months of trading as a new company - or running out of money before the end of the season.

On the loan, he said: "It's not concerning. I was down in London on Thursday at the board meeting and, although I wasn't involved in the business side of the board meeting, I was involved in the football side.

"I was told it was part of the business plan so, if that's the case, then I would think that's fine.

"I would still hope there would be investment further down the line, I think it's safe to say that everybody realises the need for investment and any stage in the future would be great."

He added: "I can only say to the supporters that I think things are going reasonably well.

"With my knowledge of what's happening, I would have to say that the supporters and myself would be encouraged by what's happening at the moment."

Chief executive Graham Wallace issued a categoric assurance on Thursday that there was no risk of the club being plunged into administration again and McCoist says he does not feel the need to demand continued personal assurances on the issue.

He said: "I haven't had talks with him because Graham has told me three or four times that's the case and that's fine.

"There is no use going into it in great detail if Graham has said to me there will not be another administration and that's absolutely fine by me. That's great news."

Asked if he was concerned about Rangers running out of money before the end of the season, he said: "I'm not really worried about that. If it happens, I would obviously be deeply concerned.

"But I've got a lot to worry about on the football side of things so I try not to worry about things that I can't really have an effect on."

Rangers were forced to call in the administrators in February 2012 during the ill-fated Craig Whyte era and McCoist added: "I can understand everybody's concerns.

"It's been a ridiculously tough two years for the supporters and everybody who cares about the club.

"I can understand concern because, myself included, we only want what's best for the club. But, being at the board meeting and discussing football matters, it was very, very positive.

"I'm encouraged by the fact that Graham and the rest of the board are happy with the way things are going away from the football side of the business."

Rangers this week launched a fan engagement programme called Ready To Listen and McCoist has been encouraged by the response so far from supporters.

He said: "They are reacting to the idea very well. I spoke to Graham this morning and he has been astounded by the response in 24 hours because I believe the figure is well over 20,000 replies."

Football

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