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Daily Record
Daily Record
Sport
Graeme Young

John Bennett in firm Rangers transfer response as he rules out player sales to repay loans

Emphatic John Bennett insists Rangers selling players to repay loans is "not going to happen".

The Ibrox deputy chairman is adamant that there is no plan to use cash from departing players to go to those who have fronted up recent investments.

Rangers will push ahead with their player trading model this summer that could see first-team stars move on after a season for the ages under Steven Gerrard.

The likes of Afredo Morelos, Borna Barisic and Glen Kamara are sure to attract interest after starring in a side who secured an undefeated Premiership season.

But Bennett moved to reassure supporters of the long-term Ibrox plan with Gerrard's men eyeing a place in next season's Champions League.

Speaking to Kieran Maguire on the Price of Football Podcast, he said: "The short answer is no. Utterly not.

"Our whole model, our whole planning - no. No player sales to repay our loan, including mine.

"Absolutely not. Not part of the plan, not going to happen.

"That’s the equity capital and this issue is an issue of permanent equity capital.

"And that’s what if you look at what we’ve done as director investors and known director investors in the six years, what have we done? We have steadfastly and consistently re-equitised the business. We’ve gone to shareholders at each AGM and asked for permission to issue shares.

"Whilst we've contributed soft loans, we then once we we’ve got the the shareholders permission, we’ve equitised the soft loans, we’ve converted the soft loans into permanent equity capital. Any business must stand on permanent capital first and foremost, that’s the equity."

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