Source: Team_Talk
Gers chief hopeful of bank boost
The debt-ridden Ibrox giants published encouraging half-yearly accounts on Wednesday which revealed an operating profit of £13.1 million for the six months to December 31.[LNB]The figures demonstrated the importance of Champions League qualification, with Rangers posting a loss of almost £9million 12 months earlier after failing to reach the group stages.[LNB]Ten points clear at the top of the SPL, they are on course for automatic entry to Europe's elite competition once more.[LNB]Smith recently declared the financial strife at Rangers - who were £31million in debt when they published their annual accounts last year - would only get worse in the summer.[LNB]But Johnston told the Scotsman: "Hopefully we can adjust the current business plan which was the subject of Walter Smith's ire recently, rightly so in my opinion."[LNB]Johnston, who succeeded Sir David Murray as chairman in August, admitted the current agreement with Lloyds was hardly ideal.[LNB]He said of the bank, who are the club's main creditor and who have one of their own people - Donald Muir - on the board: "We reached an agreement with them which is not ideal for either party but is practical in the circumstances."[LNB]Supporters are upset with the influence the bank has had on the running of Rangers, with Johnston admitting it had attempted to downsize the club last summer.[LNB]He added: "In no way would I criticise the fans, who are entitled to voice their opinions. But as far as our relationship with Lloyds goes, it is working. We need them at this point in time.[LNB]"Murray (International Holdings) are not going to put any more money into the club, so we need the bank. They have been left holding the baby after the economic crisis hit Murray. The bank are our stop-gap measure.[LNB]"The next 10 weeks will impact significantly on how we aspire to make progress for the club.[LNB]"Clearly, getting into the Champions League again would be of significant benefit."[LNB]Johnston also spoke of the need for the club to balance expectation and realism when it came to contract offers for players.[LNB]Top scorer Kris Boyd is one of a number of stars who will be a free agent in the summer.[LNB]He has been offered a new deal and Johnston said it remained on the table.[LNB]He added: "We hope he will stay but circumstances outwith our control, such as offers from English football, could persuade him to leave. We can't control the environment we are in when it comes to contract negotiations."[LNB][LNB] St. Johnstone v Rangers. Click here to bet.
