According to the Daily Record, Rangers and John Halsted have discussed a “major” cash injection to Ibrox.

According to the outlet’s website, on October 29, the Ibrox director had “detailed” discussions about delivering further funding to the Light Blues.

Halsted, the managing director of Pamplona Capital Management in Wyoming, is now the most probable candidate to bring the additional investment from the existing administration, following interim chairman John Gilligan’s lead.

The announcement follows the release of the club’s latest annual financials, which showed an operating deficit of £17.2 million despite record revenue levels.

John Halsted will give a huge Rangers cash boost.

It’s ostensibly positive needs that significant cash appears to be on the way from one of the present investors, as the club definitely requires it.

The volume of expenditure at Ibrox isn’t the issue, but rather the increasingly meager return on investment, with on-field success limited to one Scottish Cup under Giovanni van Bronckhorst and one League Cup under Philippe Clement since title 55 four seasons ago.

Rangers have compensated for underperformance for far too long, and the manager has been forced to oversee a cost-cutting operation to reduce the pay bill and discharge highly paid veterans.

While this does not justify the declining performance of his players, it does provide some relief.

The fact that one of the present directors is likely to invest additional money testifies to Halsted’s desire to support the club, as it has done with John Bennett and others up to this point.

However, the fact that the status quo will stay in place may not sit well with some elements of the fanbase, considering that their stewardship of the club has not been as kind.

Former chairman Dave King expressed interest in returning to his role for a two-year term and attracting investment from Saudi Arabia and America (Rangers Review, 15 September), while rumors of a potential takeover from the Far East have surfaced (PLZ Soccer, 23 September).

The concern is that the large sums of money coming from Halsted will be squandered in the same manner that millions have previously been squandered, and the club will return next year and beyond with cap in hand without making any significant changes.

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