It's 25 years since Sir David Murray bought Rangers Football Club. It's been a period filled with highs and lows for the Glasgow club so we're taking a look back at the Edinburgh based multi-millionaire's Ibrox reign.

The news that David Murray, owner of Murray International Holdings Ltd, had bought Rangers for £6m sent shockwaves through Scottish football when it was announced on November 23 1988.

Murray acquired over 240,000 shares of Rangers FC plc from Lawrence Marlborough to gain a 69.95% share in the club.

He was unveiled as the club's new owner at Ibrox, alongside Rangers chairman David Holmes, manager Graeme Souness and vice-chairman Jack Gillespie.

He said: "The deal has been in the offing for the last four weeks, but we have kept it quiet.

"I am delighted. This is the business deal of the year, but to me Rangers are a football club first and a business second."

Murray vowed to bring the European Cup to Ibrox and persuaded manager Souness to buy a 10% stake in Rangers to keep him at the club.

He told fans: "Don't be put off because you have not heard of me in a football sense before.

"Graeme and I will fulfil all your dreams and ambitions - because they are the same as ours.

"I have never been content with second place in the business world and I won't be in football.

"Europe is the big thing and it is not because of the money.

"I don't see Rangers in a money sense. Football is what it is all about, and it is now in Europe that it must be done.

"I do not see myself as the owner of Rangers Football Club. I am the custodian of one of Scotland's greatest institutions, and I can promise the support that I will not abuse that."

Murray continued with the ambitious strategy that he had inherited from David Holmes, further developing Ibrox and overseeing the construction of a third tier in the ground's existing main stand.

The club enjoyed great success on the field too, winning nine successive league titled between 1989 and 1997 and numerous cups and trophies, but this was not without controversy.

In 1989 the club signed Mo Johnston from French club Nantes for £1.5 million, two months after he was paraded at Celtic Park as the Hoops new signing. Johnston was the first high-profile Catholic to play for the club since the Second World War. Since Johnston had previously played for Celtic and had recently committed to re-join them, the transfer was highly controversial.

Following Souness' derpature in 1991, Murray appointed his former assistant Walter Smith as manager, followed by Dick Advocaat in 1998. During this time the club won 11 league championships in 14 years but failed to find the success Murray wanted in Europe.

However, in 2005-2006 the club secured qualification from the group stage of the Champions League, becoming the first Scottish side to reach the knockout stage of the competition. In 2007-2008 Rangers reached the UEFA Cup final and won the League Cup and Scottish Cup double.

In its quest to fulfil Murray's ambitions in Europe, the club undertook a period of unprecedented spending under Advocaat, increasing its debts.

In 1998 Murray said: "For every five pounds Celtic spend, we will spend ten."

However, television revenues failed to materialise and the club's income did not offset its growing transfer costs.

In February 1999 the Bank of Scotland took a 7% stake in the club and secured a charge over the club's income and assets should it default on its repayments. In October 2009 Walter Smith admitted that the bank had taken control from Murray and that all the club's players had been available for transfer since the previous January.

In August 2009 Murray stepped down as chairman of the club and in April 2010 the bank increased its stake in Murray International Holdings to 24%.

He sold his shares in the club to Wavetower Ltd, owned by Craig Whyte, for £1 in 2011.

Murray claimed that he had invested £100m of his own money in Rangers, however, since selling the club, his financial management has come under fire, especially after Rangers entered administration in 2012.

Whyte blamed Murray's regime for causing the club's liquidation. However, Murray has always played down his role in the club's financial meltdown and denied claims of 'cheating' following his use of EBTs at the club.

Rangers' and Murray International Holdings' won their appeal against a £74m tax bill claimed by the HRMC due to the use of EBTs at the First Tier Tax Tribunal in November 2012. In the wake of the tribunal verdict, Murray called for a police enquiry into leaked information relating to proceedings.