MIKE ASHLEY, the sportswear entrepreneur, has increased his influence at Ibrox after the board accepted his offer of a £2 million loan.
But questions persist over both the businessman's intentions and the future of the Ibrox club.
Q: Has Ashley won the battle for control of Rangers?
A: It is never that simple at Ibrox. He has certainly taken a grip over the commercial activities at the club. But the £2m will only ensure that Rangers reach Christmas. Dave King, the other suitor for the club, did not pick the figure of £16m out of the sky when he made his play. Rangers still need substantial cash just to finish the season.
Q: But surely Ashley's appointees will just apply a flamethrower to costs?
A: There will be cuts but Ibrox insiders say there is not much fat left to trim. Commercial departments have already felt the brunt of cutbacks. The football budget in terms of salaries is difficult to address because contracts are legally binding. It simply costs a bundle of dosh to keep Rangers in business. Even brutal cuts may not be enough.
Q: So how will the shortfall be addressed?
A: If Rangers need, say, another £14m to reach the oasis of season ticket money renewal, then Ashley could just simply keep doling out loans. It was his MO once at Newcastle United. He could also launch yet another share issue and invest in this way.
Q: But surely Ashley has to comply with the deal with the Scottish Football Association that he can not hold more than 10 per cent of Rangers?
A: The Newcastle United owner has an 8.29 per cent stake in Rangers and the agreement with the SFA is designed to avoid him having "undue influence" in two clubs. However, this tripartite agreement with Ashley, Rangers and the SFA is easy to amend or even circumvent. Ashley too could challenge the ruling before the SFA board.
Q: Has Dave King left the building?
A: His only route back to the table would be to buy shares. He has consistently avoided doing this. Ashley is certainly in the driving seat.
Q: And where is he heading with Rangers?
A: His gameplan is simple. Ashley wants to increase the reach of his brand into Europe. Yes, Rangers are far from the Champions League and, yes, Europe's premier competition only allows accredited sponsor branding on matchdays. But Ashley knows that substantial sales can be achieved on the back of being a club in regular European competition.
Q: So he is a saviour then?
A: No, he is a businessman. He has a strategy for Rangers that means that commercial revenues will be under his aegis. He already has the naming rights of the stadium. Can he assume ownership of the club crest or even name?
Q: How do the fans view this?
A: Some are just desperate for stability and will welcome investment that means the club avoids financial meltdown. Others are worried about Ashley's motives and the impact he will have on the club. Some of them will be protesting at tonight's Scottish League Cup quarter-final against St Johnstone at Ibrox.
Q: Will manager Ally McCoist survive?
A: He was given limited assurances yesterday. But his future will be high on a new chief executive's agenda. McCoist has agreed a wage cut from £800,000 to £400,000 a year. This makes him the highest paid manager in Scotland. This has not gone unnoticed.
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