Bain: McCoist choice couldn't wait

23 February 2011 07:00

Rangers chief executive Martin Bain insists the club could not wait any longer for takeover activity to be settled before confirming the appointment of Ally McCoist as their next manager.

McCoist accepted Bain's offer of the manager's job in December and Rangers announced the appointment, calling a media conference at an hour's notice. However, Bain denied the timing had any significance in respect to the future ownership of the club.

He said: "Takeovers have been discussed for some time and while there has been activity, I can't run this football club as chief executive waiting for something to happen. It's business as usual for us and it's very important that we get the key people in place for next year."

Lanarkshire-born businessman Craig Whyte reached an agreement in principle with majority shareholder Sir David Murray in early December but a formal offer has not been forthcoming.

Although there have been suggestions that such a deal could still be pushed through in the coming weeks, Bain felt Rangers had to make plans for next season with manager Walter Smith stepping down at the end of the current campaign.

Bain continued: "I have got a duty to our supporters to let them know who will be in charge at the end of the season. Rangers have to be run in the way they should be run regardless of the circumstances."

Bain appeared to show some scepticism over the prospect of a takeover but when asked about the progress, he responded: "That's a question for the Murray Group, that's the majority shareholding. I'm not involved in those discussions."

Smith put off his exit for a year as he felt it unfair to leave McCoist to deal with the club's financial problems - they were £27million in the red in June and their spending is controlled to a large degree by Lloyds TSB. But Bain is confident McCoist is well-placed to help the team through tough financial times.

"Our club has gone through a very, very difficult period," Bain said. "What can bring the club through a very difficult period is people who know the club inside out.

"Alistair knows the key personalities and the issues we face. Being positive about the situation we have been successful, winning back-to-back championships. "

Source: PA