McCoist sees 'light at end of tunnel'

  • Last Updated: October 11 2012, 17:48 BST

Rangers manager Ally McCoist has welcomed plans to restore the club to the pinnacle of Scottish football, but urged caution over expecting a quick fix.

Ally McCoist: Positive outlook

The Irn Bru Division Three outfit will seek admission to the Alternative Investment Market of the London Stock Exchange in the hope of raising up to £20million.

It is hoped their admission into the AIM can be completed by the end of the year, as they continue re-ordering their finances following the liquidation of the 'oldco' club and the acquisition of its assets by Charles Green's consortium in the summer.

"I'm excited because this has been the most dramatic six months for the club and its support," McCoist said. "I don't believe for a minute that we're out of the woods yet, but there is light at the end of the tunnel and we're nearly there.

"I'm really, really excited by the prospect of the club getting back to where it was. It's not going to be an overnight fix. We have to take a real, hard look at where we are and what's actually happened.

"I don't think the vast majority of our support know exactly what's happened to the club. We've lost 28 players in six months

"We're not going to get back to where we were overnight, there has to be a realistic approach to it.

"At least now we can see where we want to go and there's a path to it.

"I'm very confident that we'll get back to where we were. In fact, I'm really looking forward to the challenge."

Rangers are hoping to raise £20million through an institutional investor placing and limited public offering.

Chief executive Charles Green revealed the club will be undertaking an institutional investor roadshow, claiming that to date there has been "strong interest".

The funds will be used to strengthen the squad, improve and develop the club's properties and facilities and provide additional working capital.

"From the time we acquired the business and assets of Rangers FC, we indicated our intention to list the company and provide our fans with the opportunity to invest in their club. I am delighted that our plans are coming to fruition," Green said.

"Rangers is debt-free and a huge club with enormous support and a 140-year track record of success on the domestic and international arenas.

"Our aim is to return the club to its glory days whilst ensuring it is run efficiently and profitably."

Green accepted that football has endured a chequered past concerning flotations on the stock exchange, but is confident Rangers will be a success.

"Historically when a club has floated it hasn't been very good, but we've got the ability to generate huge revenues from merchandise," he said.

"Our stadium and training facilities are first-class. Look at Chelsea, they have a crap stadium and a reasonable training ground, but neither compare to what we have.

"We're at the late stage over a kit deal with adidas or Puma and the moment we were knocked out of the SPL we took control of our image rights. And we have no debt.

"There is a real business there, but unfortunately it's a business that's been run badly in the past."

Green stated that Rangers' favourable odds of securing Champions League football and a place in any European super league also makes them an attractive investment.

"There will be a European league because big clubs can't keep subsidising small clubs like Southampton for the next 10 years because they will go stale," he said.

"Arsenal don't want to play Southampton or Swansea, but ask them if they want to play Celtic or Rangers. It's what the fans want to see.

"Fans across the world want to see Manchester United play Barcelona, not just once every few years but every season.

"If there are two divisions of 18 clubs, how could Rangers not be a part of that?"

Financial director Brian Stockbridge insisted that Rangers are able to continue without the £20million, but the money would bring their plans forward.


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