Rangers’ outgoing chairman, John Bennett, will not withdraw his £23 million investment.

Bennett has stepped down but his money is going nowhere.

Despite stepping down as Rangers chairman, John Bennett refuses to leave Ibrox with his money.

He will be temporarily replaced by former director John Gilligan, who played a crucial role in Dave King’s takeover nine years ago.Bennett has left the post owing to health issues. And it is thought that the recent criticism he has received has had a significant influence on his close family and personal life. According to Record Sport, the 61-year-old, who has invested over £23 million in the club, will continue to be a loyal stakeholder and big investment.

Bennett’s departure brings an end to a terrible reign at the helm, which began in March of last year when he succeeded Douglas Park. The longtime supporter and Glaswegian served on the Ibrox board since 2015 before taking on the top post. However, subsequent incidents have tarnished his tenure in leadership.
Rangers announced his departure in a statement that read: “Chairman John Bennett is stepping down with immediate effect due to health concerns. The board would like to thank John for his dedication and tremendous effort over the previous nine years, and wishes him a complete and swift recovery.

“It is requested his and his family’s privacy is respected at this time.”Former director John Gilligan will temporarily serve as chairman until a permanent replacement is found.

“The Board appreciates John’s willingness to step in on short notice and feels that his expertise in top corporate roles throughout a long and successful career, as well as his status as a former Rangers director, will be essential at this time. The Board is going through a rigorous process with the assistance of competent advisers to fill the positions of CEO and chairperson. Meanwhile, the club’s senior management team will continue to oversee day-to-day operations.

Rangers now lack a chairman, CEO, football director, and academy director. And it will cause even more disruption in an already difficult season.

Bennett faced mounting pressure when he was forced to apologize to supporters after admitting that Ibrox would not be ready to host games owing to a delayed delivery of steel from China, which was impeding reconstruction work on the Copland Road stand.Philippe Clement’s team will face Dundee at home next Saturday, but there is still work to be done behind the goal.

After moving to Hampden, the Gers were eliminated from the Champions League by Dynamo Kyiv and fell behind Celtic in the Premiership after drawing at Hearts and losing 3-0 at Parkhead. Bennett attracted criticism from supporters over the stadium catastrophe after vowing to be the ‘best in class’ as Ibrox vice-chairman in September 2022.

Instead, Celtic won the domestic double last season and collected a £40 million Champions League bonus. While Bennett was on the board since 2015, Rangers only won one championship – the Scottish Cup and the League Cup – and advanced to the Europa League final.

One of his final acts as chairman was to award gaffer Clement with a new contract extension in August. Gilligan will take over temporarily, but it is doubtful that he will remain in the position indefinitely.

The Ibrox board is now reviewing possible CEO candidates and must now select a new chairman. With Bennett’s resignation, director Graeme Park is now the club’s sole Glasgow-based board member.

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