Madcap Walter Smith has urged Dave King to hand the keys of his transfer war-chest over to Mark Warburton for the January transfer window.
Smith’s chequebook management led to the administration and liquidation of the old club as they refused to settle up with HMRC for years of financial doping.
In 2012 the former Scotland manager accepted a directors role from Charles Green just before the fans coughed up for shares and later took over as chairman at the troubled club.
It seems that no lessons have been learned from the financial madness of the past with the tribute act getting by thanks to soft loans from directors.
£14m of loans are due to be repaid in December 2017 from the loss making institution but rather than finding a sustainable model Smith wants to see money thrown at players and agents.
“Part and parcel of the club’s problems were the circumstances that they were in when the current board took over,” Smith explained to STV about the regime he was happy to serve under.
“While it was going to take Mark Warburton some time to adjust football-wise, it’s going to take the board a little bit of time to adjust to the financial aspects but when you take over at Rangers that what you have to do.
“If we’re looking all in all if the club can finish second this season, get themselves a bit closer to Celtic in the second half of the season then you can look to the following season for Rangers to put up a better challenge.”
David Murray did ‘what you have to do’ thanks to the generosity of the Bank of Scotland followed by creative tax policies.
With a going concern warning in their 2016 accounts and Smith urging more money to be spent it looks like the tribute act are heading down the same route as the club that went into liquidation in 2012.
