Source: Team_Talk
Johnston to guard against Gers debt
Chairman Johnston has vowed to ask the tough questions of London-based property tycoon Ellis, who is reportedly in the process of examining the cash-strapped Ibrox club's finances as he weighs up whether to make a bid for Sir David Murray's 90% stake.[LNB]Johnston and a sub-committee of the club's board will forensically examine any offer from Ellis and, though they have no power to veto any takeover, their advice could sway Murray's decision to sell.[LNB]Johnston told The Times: "The club's board are charged with upholding the reputation of Rangers, and so, if any deal is in the process of being done, we will be in a position to examine it thoroughly and determine in our own minds whether it was for the good of Rangers.[LNB]"What is not of interest to us are the benefits of any deal for the Murray Group - it is the viability of Rangers under any new owner that is of supreme importance to us. We have a responsibility - morally, ethically - to be the guardians of this club.[LNB]"When any such deal like that is reaching agreement, then it is game on as far as we are concerned. We will ask any potential new owner: how committed are you? How much money do you intend to put into Rangers? And how verifiable is that money?[LNB]"We would also want to ask any buyer: how do you propose to finance your deal for Rangers? Because what we don't want is any Glazers/Manchester United situation at Ibrox."[LNB]Johnston admits any takeover could spell the end of his short spell as Rangers chairman.[LNB]"I might be at this club for years to come, or I might be here for just a matter of weeks - it depends what happens," said Johnstone, who succeeded Murray in August.[LNB]"It is not a condition or even necessarily an ambition of mine that I am with Rangers for a long time. If it works out that way, fine, but I've left my briefcase by the door. I'm not in this for myself. I'm in this, I hope, for the good of Rangers, to secure the best possible future for the club."[LNB][LNB][LNB] Scottish Premier League. Click here to bet.
