Muray not panicking

[bringonthbarca 25]

Rangers chairman Sir David Murray insists his plan to offload the club's most saleable assets is not a sign of 'panic'.

The Gers' financial woes have become public knowledge in recent weeks, with departures needed to help balance the books.

However, parting with key men is only likely to prove detrimental to performances on the field and the club's supporters have not taken the news well.

Fan angst has become so extreme that certain sections of the Ibrox faithful have called for Murray to quit his post, allowing someone new to steer the club in a different direction.

However, the Gers supremo insists he has no plans to step down and has called for those disappointed at his actions to gain some perspective.

"We are no different from any other business," Murray said.

"Our static overheads are too expensive and we have less revenue.

"We had to take these things into consideration because the club must be run professionally and financially correct.

Framework

"Yes, we could continue to spend money but we would develop more problems and the club would not be in a good condition.

"I genuinely believe that the plan we put in place when (manager) Walter (Smith) came back has been knocked off course by a couple of factors in a very, very difficult economic climate.

"What I'm doing is not panicking. It is a controlled management of the club.

"We have a financial facility with the bank and we must work within that framework.

"I spoke to Walter and confirmed the need to bring in funds to compensate for the fact we are going to make a loss this year."

Murray does still hope that Rangers can retain the services of the majority of their first-team regulars, but accepts that may not be possible.

He added: "When you announce that you are ready to sell, then it can happen that regular first-team players are targeted when you would rather that was not the case.

"As a Rangers fan I can understand why people are questioning why we are doing it. But it's not just about the short-term, it's about the long-term financial stability of the club."

http://www.skysports.com/story/0,19528,11788_4862172,00.html