The key to Rangers takeover by Far East investor pinpointed as swirling rumour faces Ibrox board non negotiable

John Gilligan has set out his vision after stepping into the role as chairman at Ibrox

The key to Rangers next big investment is who is going to spend the money and if they will use it properly amid rumours of potential investment from the Far East.

That is the view of Tam McManus after the Light Blues' new chairman John Gilligan spoke publicly for the first time since replacing John Bennett in the role. There has been a battle in the boardroom at Ibrox since Bennett stepped back from the top job with former chairman Dave King pushing for a return to the club.

King - who still holds a 14 per cent stake in Rangers - last week claimed the club were “in crisis” and said influential board members wouldn’t want him back because they know he “wouldn’t tolerate board members who are only in it for the ‘jacket and tie’ and don’t actually want to do any real work”. Gilligan branded a return “unrealistic” as he pleaded with King to keep talks behind closed doors.

Gilligan assured supporters that fresh investment was coming under the current regime after King claimed last week that it would take £50m to meet short and medium term objectives. And former Hibs striker McManus has flagged the reasons that investment from the Far East could be greenlit amid swirling chatter and reports south of the border.

He told PLZ: “I think Dave has been pretty vocal about getting back into Rangers again. I don’t think John [Gilligan] and the board at Rangers are particularly wanting that. That is pretty clear from his interview, I think they are wanting it to be done on the quiet.

"But, Dave is a big character and he has made it clear he wants back involved with Rangers. It remains to be seen who is going to come in and invest. There is rumours of the Far East and different things.

"That is going to be the key - who is going to invest the money, and is the money going to be used properly. We know Celtic are financially miles ahead of Rangers at the minute, but if someone comes in with deep pockets to Rangers they can get a lot closer off the park.”

But a big-money offer appears unlikely to tempt the board to sell completely - with Gilligan stating that the higher-ups do not want just one person to own the club. Asked about a free cash investment, he said: “There is fresh investment coming in to the club.

"But, in fairness, Dave is talking about fresh investment, but he doesn’t want to invest. I am not quite sure where he means the investment is going to come from. There will be investment.

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“The current investors have invested considerably over the years and are willing to do so again. We are open to anyone who approaches us on investment. We get approaches from all over the world from various sources. But it has to be the right people and the right conditions and for the right amount of shares. We don’t want one person owning the club.

“I don’t think you can put a number on it. The gap at the moment is considerable, but you just have to win your games, get back challenging for the top spot. Then if we get into the level of Europe we hope to get to then the gap can change quite quickly.”

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