Scottish Football - Murray: Changes will bring funding

Rangers board nominee Paul Murray is confident of fresh investment in the Ibrox club if there are boardroom changes at the club's annual general meeting on December 19.

PA Sport
Scottish Football - Murray: Changes will bring funding
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Paul Murray attended a meeting with Rangers fans on Thursday

Scottish businessman Jim McColl is behind the bid to have the former oldco Rangers director, former Light Blues chairman Malcolm Murray - and allies Scott Murdoch and Alex Wilson - voted onto the board and all five met with several hundred Gers fans at an open forum in a Glasgow hotel on Thursday night

Before the meeting took place, Murray was asked how confident he would be of investment if his group were successful.

"Very confident," he replied. "This is a fantastic club and a good business. I sat on the board for four years when we generated £20 million in cash.

"That wasn't down to me, it was down to Walter Smith and the team. But it shows it is not impossible to run the club properly.

"What we have been told by the investors we have spoken to, both public and private, is that if we get the right board and business plan together then they will back us with more money.

"People can see the value of Rangers in the long-term. But no-one wants to put money in when you have an unstable situation and concerns over financial matters and governance."

The Rangers board, including three new members - chief executive Graham Wallace, chairman David Somers and non-executive director Norman Crighton - and under-fire financial director Brian Stockbridge, whose position was described by the dissenting group on Wednesday as "completely untenable", were also invited.

However, none were in attendance at the event chaired by former Rangers director of football and player, Gordon Smith.

Murray said: "That's what I find strange. The three individuals who have come in to the club appear to have credible CVs, they tell us they are independent.

"It seems odd to me that they haven't come along, even if only to actually meet the customers of the club."

Before the meeting, Rangers issued a lengthy statement which hit back at the 'requisitioners', part of which read: "We continue to be deeply concerned at the unsubstantiated allegations being promoted by the requisitioners.

"These men, in particular Paul Murray and Malcolm Murray, portray themselves to our loyal fans as potential guardians of corporate governance, yet every action they take threatens to destabilise our club, could further influence the share price and may hamper the club's ability to attract additional commercial partners in the future.

"We challenge them to prove their allegations but if all they can provide is rumour and hearsay they should now cease causing further damage.

"We believe that fans do not want to go back to the days of administration, relegation, boardroom strife and infighting which will ultimately prevent Rangers competing once again at the highest level.

"We believe that this could be a result of what McColl's group is offering."

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