Rangers board don't want to lose power as new investment update emerges amid Ibrox mess

Rangers board members have been extremely picky about who they will allow to invest in the club and gain power, according to Alan Brazil.

The talkSPORT host said live on the station on 31 October that he's been informed that of those who have attempted to put money in few are getting anywhere.

The Light Blues' latest yearly financial figures were released on 29 October showing an operating loss of £17.2million despite record revenue levels, while Philippe Clement's side are in disarray on the pitch following a summer transfer window of cost cutting.

According to Brazil the incumbents on the Ibrox board are not eager to cede power to new people, suggesting there may have already been rejections.

He said (5m 30s): "Going back to the board and stuff, I'm told that people are not queuing up to put money in, but they're very selective about who they want to bring in and give power to."

John Halsted set to increase Rangers investment

All of the disfunction at Ibrox is related and the financial failings have both been caused by issues on the pitch, and in turn being demonstrated in further struggles.

Clement's side lost 2-1 at Pittodrie on 30 October to fall nine points behind not just reigning champions Celtic but also Jimmy Thelin's resurgent Aberdeen.

The Belgian wasn't able to restock an underwhelming squad with major firepower in the summer because he was hampered by budget restrictions and a need to bring down the wage bill.

That doesn't entirely excuse him from what has been a hugely-disappointing campaign so far despite some signings being made, but illustrates, along with the latest financials, that new money is needed from somewhere.

The general mismanagement of the club since winning title 55 is turning an increasing amount of the support onto the view that a takeover that replaces the current regime is needed to stop the rot.

There had been rumours of interest in buying the club from Asia [PLZ Soccer, 23 September] but there is reportedly nothing imminent in terms of a full buy out and cash is more likely to continue coming from those who are already in-house [Rangers Review, 11 October].

According to the Daily Record on 29 October, "detailed" talks have been held with director John Halsted over "major" new investment.

Former chairman Dave King has talked up the prospect of new money from the US or Saudi Arabia [Rangers Review, 15 September] but doesn't appear to have got anywhere in his bid to return to Ibrox.

It is only right that the board is cautious over who is allowed to gain an influence at Rangers to prevent unscrupulous characters getting in, but if they are only doing so purely in order to maintain their own control then it would amount to putting self-interest ahead of the club.

And when their recent record would have plenty of fans see them replaced altogether they could do with the help.

In other Rangers news, Ianis Hagi is expected to leave the club soon despite making his breakthrough return.

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