Axed Murray issues warning and reveals he paid Ibrox electricity bill

Sacked former The Rangers International chairman Malcolm Murray has warned fans of the precarious position the club is in.

After resisting six months of attempts to remove him from the boardroom Murray was finally axed on Tuesday alongwith Phil Cartmell as James Easdale was appointed in his place as a non-executive director.

Murray was brought on board a year ago by Charles Green to give the club credibility in financial circles and overseen the share issue in December.

Despite his role as chairman he kept a low profile in the media- rarely making himself available for interview as Green promised the earth before walking away as chief executive in April.

With no audited accounts published the state of the clubs’ finances have been open to speculation with claims of £1m a month losses not helped by a first team squad of almost 30 players managed by £750,000-a-year boss Ally McCoist.

In an open letter published last night Murray reveals the state the club was in last year and warns about the mysterious individuals left in the boardroom

“During the dark days of last summer I put a six-figure sum into the club to literally stop the lights going out at Ibrox at a time when we were in real danger,” Murray recalled.

“My family have given things up to help save Rangers in this difficult year. There aren’t many wives who would let their husband pay someone else’s significant electricity bill.

“You and I want a squeaky-clean club run by men of the highest integrity and global commercial ability and the highest level of transparency.

“The reason we went down the flotation route was to guarantee transparency, whereas ownership by mysterious individuals does not.

“Events of the last year have seen behaviour that would make the late, great Bill Struth spin in his grave.

“The loss of two men (Phil and myself) with such lengthy financial public company experience and a quality broker will undoubtedly raise questions amongst our institutional shareholders.

“Only time will tell how they will react. These investors and you are our future and you must be listened to and given transparency.

“We cannot go back to the depths of the last two years, we need to hold course. Corporate transparency is the norm and we should embrace it rather than change course when difficult questions are asked.”