Scottish football: Delicate Rangers need investment to survive, says Andy Walker

Andy Walker says Rangers are ‘bleeding money’ and desperately need investment after the club confirmed they have received an approach from Robert Sarver, the majority owner of the Phoenix Suns NBA basketball team.

In a statement released to the Stock Exchange on Monday, Rangers said the approach from Sarver ‘may or may not lead to an offer being made for the Company’, but that any offer must be made by 5pm on February 2.

It is understood that Sarver initially contacted the Rangers board last month with a view to an £18m offer for control of the club.

And former Celtic striker Walker told Sky Sports News HQ that Rangers require serious investment to keep the club going.

The truth is that right now Rangers are bleeding money. They are still in a delicate situation, they are on life support, living month to month.

“The truth is that right now Rangers are bleeding money,” he said. “They are still in a delicate situation, they are on life support, living month to month. All of these people buying up shares, it’s shares, and it’s the club that needs money to survive.”

Rangers have received a couple of financial injections recently thanks to a loan of up to £500,000 from shareholder and football club chairman Sandy Easdale and the sale of Lewis Macleod to Brentford for around £1m.

However, Walker says it will take much more to save Rangers, who are 13 points behind Scottish Championship leaders Hearts.

“Sandy Easdale has very recently given them a £0.5m injection and when you combine that with the sale of Lewis Macleod to Brentford for less than a £1million, that’s hard cash and that will get Rangers to the end of January,” he said.

“But in the background we are all aware this is a club that still needs an £8million investment by April just to keep the lights on.”