LEE WALLACE remaining at Rangers was rightly celebrated by supporters of the Ibrox club everywhere.

But the SPFL League One leaders hanging onto their star performer does raise a question.

And Ally McCoist's entire first-team squad remaining intact throughout the January transfer window does pose a new problem.

How do the Ibrox club, who are currently operating at a monthly loss, cut costs?

After all, the first-team squad has declined the offer of a 15% cut in pay for the next season-and-a-half.

And the wage bill has remained the same without any of the players either being sold or leaving on loan.

Yet the Glasgow giants cannot keep paying out money the way they currently are without fresh investment coming in.

So now it is over to club chief executive Graham Wallace and consultant Phillip Nash to address these issues.

I think Ally and the players need to focus solely on winning the league and doing well in the cup competitions they remain involved in.

They should trust the chief executive, who has embarked on a 120-day restructuring project, to address the other concerns.

This four-month review gives the former Manchester City chief operating officer the chance to look at the books and identify what needs to be done.

He has to be given time to go and complete that process properly. When he has I am sure that he and his fellow directors will decide on the best course of action.

But I have said it before and I will say it again - the directors at Rangers should be contacting potential investors, like Dave King, now.

There has been wild speculation on the internet this week about the club encountering serious financial problems. But that is what you get online.

These people can write whatever they like and get away with it.

But if Rangers were facing another crisis then why didn't they sell Lee Wallace when the offer of £1million came in from Nottingham Forest?

They would have got cash in the bank and would have reduced their outgoings. It does not make sense to me.

I think it just boils down to the fact that certain folk love putting the knife into Rangers.

Amid all the speculation about whether Lee was going to stay or go one thing was overlooked. What did the player himself want to do?

That is so important. Even if an offer had been accepted it does not necessarily follow that he would have have been prepared to move on.

He has always said he is happy at the club. He is playing well and the excellence of his performances have resulted in him forcing his way back into the Scotland squad.

He stayed loyal to Rangers when many of his team-mates jumped ship. I think he will want to see out 'The Journey' and return to the top flight.

It would have been easier for him to move to a club at a higher level, as so many of his fellow players did, back in 2012.

But the former Hearts man is clearly happy at Rangers and remained. He obviously likes the club, his team-mates, the coaching staff and the facilities.

On top of that, away from football he has a young child and is obviously settled in Scotland. He seems to be a real home bird. And what is wrong with that?

He has been the best performer for Rangers this season and will, even if he has the misfortune to get injured, win their Player of the Year award.

And please do not give me any of this nonsense about him lacking ambition! How can he possibly lack ambition?

He is playing for the biggest club in Scotland in front of over 40,000 fans every week.

Yes, he is in the third tier. But his ultimate aim is to get back into the top flight and European football.

He has played there before with Rangers and done well so to my mind he has nothing to prove to anybody.

Lee deserves to be praised, not criticised, for showing such loyalty to Rangers. It is a seldom-seen quality in the modern game when money dictates so much.

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