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Barry Ferguson puts his trust in ‘shrewd businessman’ Douglas Park to stop Celtic

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Barry Ferguson trusts Douglas Park to keep underwriting the cash shortfall at Ibrox.

Five years after taking control of the club alongside Dave King the Lanarkshire businessman has been left on his own with a mountain of cash problems to deal with.

Last years accounts predicted a £10m shortfall in seeing this season out while the costs and legal bills for breaking contracts with Sports Direct and Hummel/Elite have still to be addressed.

In return for his investment Park has celebrated the 2015 Petrofac Challenge Cup and saw the clubs share issue balloon from 81m to 160m. There has been no capital expenditure on the club which has been saddled with a massive wage bill while watching Celtic lift 10 successive domestic trophies.

With all those issues to address Ferguson is pleased to see a True Blue take over as Interim-Chairman even though Park hasn’t said a word about his appointment other than a few lines in last Friday’s rushed club statement.

Ferguson told the Daily Record.

I honestly can’t think of anyone I’d trust more to look after the club’s best interests and get it through to the other side of this crisis.

Actually, I always hoped that one day he might take over the reins but never thought it would happen as he’s a very private kind of guy.

You’re talking about a man with deep pockets here who has been signing cheques for some time now to keep things ticking over at Ibrox.

He is as shrewd a businessman as they come but, most importantly of all, he has Rangers in his DNA. He wouldn’t have stepped up as chairman if he didn’t believe he could guide the club safely through this shutdown.

And that’s certainly a weight off my mind because it’s hard enough getting through from one day to another right now without also having to worry if King has just done a runner when he was needed most.

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Barry should keep an eye out for more Friday night announcements, it tends to be the best time to deliver bad news.

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