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McCoist shocked by administration fears

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Karaoke McCoistAlly McCoist was left stunned by Sandy Easdale’s quote that the finances of Sevco are fragile and that the club will not survive a ‘second’ administration.

In a carefully rehearsed interview with the compliant BBC Mr Easdale shed some light on the financial situation that the League One champions find themselves in.

Easdale wasn’t asked about the 128 day review due to be published today or about Graham Wallace’s claim that there was no danger of administration.

Mr Wallace, who used to work for Manchester City, has had daily cups of tea with McCoist over the last few months, but has kept the grim news back from the team manager.

“He told the BBC that?” McCoist responded after being told of the fragile comment. “That’s news to me. I wouldn’t react to it until I had time to digest it to be honest but if that’s what he’s said then that would be a little bit concerning.”

McCoist quickly gave his backing to Mr Wallace having previously given his support to Mr Whyte, Mr Green and Mr Mather in the past.

After previous difficulties the arrival of Mr Wallace seemed ideal for the young manager as he found a kindred spirit with an understanding of football following his time at Manchester City.

“I definitely think that Graham Wallace in particular and the board in general deserve an opportunity to see what they can come up with,” the Ibrox boss said in February.

“Personally, I feel that I’m building a good relationship with a chief executive who has football experience and I firmly believe will do the best for the club.

“I’m in a better place in that respect. There’s no doubt about that. The relationship between the chief exec and the manager is the most important at the club.

“I feel in a better place with the dialogue I have with Graham. I speak to him a couple of times a day and we meet two or three times a week. Hopefully in the coming weeks and months a brighter picture will be painted of the long-term future of the club.”

The likelihood of administration will signal the end of the road for Mr Wallace who was appointed as chief executive in November 2013.

After a month in charge he launched a 120 day review, as recently as February 21 he reassured supporters that administration wouldn’t happen as he launched a club survey titled ready to listen.

Despite taking on a £1.5m pay day loan Wallace said: “What I can categorically say to all Rangers fans worldwide is there is no threat of a second administration.

“We are working our way through the business in a very logical and organised fashion. But let me put that to bed once and for all. We are absolutely focused on the long-term sustainability and success of Rangers.

“I knew exactly what I was getting into when I agreed to join the club. My position today is no different from then.

“There’s a lot of work going on behind the scenes and we are all totally committed to the long-term success of the club. There is no threat of people walking away.”

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