McCoist on emergency loan: I would hope it would be a positive step
Halfway through his 120 review of the clubs’ finances, and having lost former finance chief Brian Stockbridge and had conceptual discussions with players over a wage cut rejected, Graham Wallace has had to turn to two existing shareholders to meet the February payroll.
Mr Wallace, who used to work for Manchester City, has recently taken to issuing statements denying that the club is in a cash crisis with McCoist taking those statements at face value.
Last week McCoist was told that the emergency loan was part of the business plan with today’s detail about the deal providing the Ibrox gaffer with hope that good times are just around the corner.
“How beneficial this will be for the club is not really a question I can answer,” the fun loving former Question of Sport skipper admitted. “That’s one for the chief executive and the board – but I have been told it’s part of a plan that they had.
“I would hope it would be a positive step but to my knowledge, it will not have any impact on my plans for the squad.
“I will have a better idea of what we have for next year’s budgets in terms of players coming in after Graham has completed his 120-day review.”
Confirming that his planned summer spending spree may be put on hold McCoist added: “I understand the fact Graham has asked for 120 days and I think we should respect that and certainly give him that.
“I would hope we would have enough time to make the preparations we need after the 120-day review is completed.
“We are keen to get the football side of things moving and to continue to move forward. There are lots of issues we have to address on the scouting, medical, transfer and contract fronts.
“On our side of the business we are keen to get moving so I would be very hopeful that we would have enough time.”
Meanwhile in London today the Upper Tier Tribunal into the EBT’s used by Rangers prior to liquidation was opened, it is expected to deliver a verdict in mid March.