Sandy Easdale has warned Sevco fans that their company needs someone to donate £40-50m to stop Celtic.
The Renfrewshire based businessman was kicked out of the blue room four years ago when Dave King swept to power alongside the Three Bears.
Great promises were made but as Celtic close in on an eighth successive title there is a growing realisation that everything King has touched has resulted in failure.
Mark Warburton, Pedro Caixinha and Steven Gerrard have been unable to put together a meaningful challenge to Celtic with soft loans piling up alongside secured loans with Close Brothers.
Hiking up season ticket prices is a delicate decision to take but with 10,000 less seats to sell than the champions it’s little wonder that Celtic bring in £3 for every blue pound note arriving at Ibrox.
“I think they’re heading the right direction but the lack of funds is evident,” Easdale told The Sun.
“Until they get somebody behind it with serious money who can afford to lose 40 or 50 million quid I don’t think you’ll see much progress. I think this year Gerrard has been great for them and given them a boost.”
In a more detailed interview in the Daily Record he added: “Steven Gerrard can only do so much. It all boils down to finances. They have a lot of on loan players but they need to get that real financial backing behind them. I don’t know if Dave King has something lined up but they are buying shares at 20p a share.
“They aren’t going to catch Celtic today or tomorrow. They need a lot of money. Catching Celtic is a good couple of years away. Rangers fans – like Celtic fans – are ambitious but at the moment, they can’t finance that ambition.”
