Takeover can 'extinguish the rot' at Rangers
The takeover of Rangers by an American consortium can "extinguish the rot" that has persisted since Craig Whyte's ill-fated reign, says departing director Alastair Johnston.
Whyte bought Rangers from Sir David Murray in 2011, ousting Johnston as chairman, and the club lurched to financial collapse the following year before re-emerging in the bottom tier of Scottish football.
Celtic have dominated the domestic game since, but Johnston is hopeful of brigther times ahead after a consortium led by healthcare tycoon Andrew Cavenagh and 49ers Enterprises last week acquired a 51% controlling stake in the club.
Johnston, who returned to the board as a non-executive director in 2017 when Dave King was chairman, is standing down with a new-look board taking shape but the United States-based Glaswegian and lifelong Rangers fan is optimistic about developments.
The 76-year-old told the PA news agency: "I was asked to respond to a question at the Rangers AGM last December as to the options available to the club in order for it to return to its glory days.
"My comments were reported at the time as being somewhat bemusing. I responded by describing the current circumstances in English football about so many of the leading clubs being taken over by American investors and, in several cases, their approach included an ownership model that involved multiple teams.
"I was careful to insinuate that this was a hypothetical possibility. In truth, I was already aware of the interest that a group involving the 49ers had shown in Rangers and that we had already engaged in early-stage discussions with its representatives.
"Understandably, the possible investors wanted to maintain the utmost secrecy as to the direction of their mission.
"It took about six months for the Rangers board to reach a mutually acceptable arrangement that would be in the best interests of our club.
"Intense negotiations were conducted covering all facets of such an acquisition, and I am delighted we were able to capitalise on a collaboration that we believe will provide us with a platform to extinguish the rot that had befallen the club for a decade since the Craig Whyte fiasco."
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