David Somers believes that the appointment of Deek Llambias can turnaround the fortunes of Sevco.
The former Newcastle United chief executive has been appointed on a consultancy basis and is effectively replacing Graham Wallace, who used to work for Manchester City, as chief executive of the struggling club.
Mr Wallace followed on from his predecessors Charles Green and Craig Mather in failing to implement any attempt to run the club on a sustainable basis with monthly losses coming in around the £1m mark.
As well as the onerous contracts uncovered by Mr Wallaces’s 128 day review a bloated management structure, excessive player wages plus the upkeep of Murray Park and a youth academy have drained the club to the point that emergency loans are a regular occurrence.
Llambias has been sent in by Ashley to investigate what is going on at the club but Mr Somers, who is reportedly picking up £10,000  a month for two days work believes that the former Newcastle chief can turn the club into profit.
“He’s a consultant and the only other thing I will say is that I’m sure everything will turn out for the best,” the Sevco chairman told Sky Sports. “I’ve invited him and Barry Leach in as consultants just to help us out. I think everything will turn out for the best. It’s good to get investment into the club.”
Llambias is no stranger to Ibrox and worked closely with Mr Green as the deal to create Rangers Retail was put together and given to Sports Direct.
The £2m MASH loan should cover tomorrow’s October wage roll but serious cuts are expected to keep the club afloat before the January transfer window where it’s likely to be one way traffic out the marble staircase of dignity.
Until audited accounts for the year to 30 June 2014 are published further investment is unlikely with the last share issue raising just over £3m before costs.
With Somers, Sandy Easdale and Sports Direct involved anything is possible with the prospect of fan ownership or a blue nose billionaire taking charge as remote as ever.
UPDATE: Somers has been given the task of rubber stamping Ashley’s choice of chief executive.
A statement to the Alternative Investment Market confirmed: “David Somers non-executive Chairman, will become Executive Chairman of Rangers on a temporary basis with immediate effect.
“In this role, he will liaise directly with senior staff within the Club about the operation of the business, and he will oversee the recruitment of a new Chief Executive and Finance director.