Future 'bright' for Rangers

Rangers chairman David Murray has promised a “brighter future” for the club after announcing a considerable reduction in debt.

The club revealed yesterday that their rights issue had raised more than £51m (€73.7m), an amount which should go some way to paying off their record £73.9m (€106.8m) debt.

Murray, whose own company, Murray MHL Limited, is to underwrite more than £50m (€72.2m) of the total sum, said this meant manager Alex McLeish would no longer be under pressure to sell players.

There had been fears that the club would have to let some of its squad go in the near future with defender Jean-Alain Boumsong particularly likely to attract bids from elsewhere.

But Murray told the club’s official website, www.rangers.co.uk: “It now means we are in a position where we do not need to sell any of our players.

“However, if we do sell any players the money will immediately be given to Alex McLeish for replacements.”