SPFL: Rangers boss Ally McCoist encouraged to hear no administration at Ibrox
Ally McCoist believes the long-term future of Rangers is secure, despite the need for a £1.5m 'working capital' loan.
Last Updated: 21/02/14 1:34pm
Sandy Easdale, chairman of the club's football board, his brother James, a director of the PLC board, and hedge-fund managers Laxey Partners, have reportedly agreed to put up the money in exchange for shares in the Gers next year.
Despite the shortfall in cash, McCoist is encouraged by chief executive Graham Wallace's reassurances that they will not be going into administration.
"Graham has told me three or four times that that will be the case and that's fine," said the Rangers manager.
"There's no use going into it in great detail if you know Graham has said to me that there will not be another administration and that is absolutely fine by me and obviously great news.
"It's been a ridiculously tough two years for the supporters and everyone who cares for the club and I can understand their concern.
"But, as I say, being at the board meeting - discussing football matters yesterday - it was very positive from certainly my position as manager of the football team.
"And I have been told, and have been 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 face Stenhousemuir on Saturday. Check out any goals from Ibrox on Today's Goals Now on Sky Sports News from 8pm