Rangers set for serious investment as detailed financial talks held with US billionaire

Rangers have held in-depth discussions with John Halsted over a "major" cash injection at Ibrox, the Daily Record reports.

According to the outlet's website on 29 October the Ibrox director has held "detailed" talks over providing further capital to the Light Blues.

US billionaire Halsted, based in Wyoming managing director of Pamplona Capital Management, is now the most likely option to deliver the new investment from the current regime which had previously been trailed by interim chairman John Gilligan.

The news comes off the back of the club's latest annual financials being released showing an operating loss of £17.2million despite record revenue levels.

John Halsted to deliver major Rangers cash boost

It's nominally positive needs that considerable cash looks to be on the way from one of the current investors because the club clearly needs it.

The level of expenditure isn't the problem at Ibrox so much as the increasingly measly return for it, with success on the pitch consisting of one Scottish Cup under Giovanni van Bronckhorst and one League Cup under Philippe Clement since title 55 four seasons ago.

Rangers have overpaid for underperformance for too long and the manager has been obliged to oversee a cost-cutting process to bring the wage bill down and offload highly-paid veterans.

That doesn't excuse him from the diminishing returns he has produced from his players, especially when the jury is still out on most of those he has bought, but gives a measure of mitigation.

That it is one of the current directors likely putting more money in speaks well of Halsted's willingness to support the club, just as it has done with John Bennett and others to this point.

But it won't go down especially well with some sections of the fanbase that the status quo will remain in place given their governance of the club hasn't matched their generosity.

Former chairman Dave King wanted to return to his previous role on a two-year basis while talking up investment interest from Saudi Arabia and America [Rangers Review, 15 September], while there have been rumours of a potential takeover movement materialising from the Far East [PLZ Soccer, 23 September].

The fear is that big money arriving from Halsted could end up being frittered away in the same way millions has already been wasted, and the club will be back next year and beyond with cap in hand once more without greater change.

In other Rangers news, Clement is walking the same tightrope that Erik ten Hag was and could be just two games away.

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