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POWERLESS; Smith: Rangers' affairs are being controlled by bank; Bank is in charge of our affairs, says Smith.

Publication: The Mail on Sunday (London, England)
Publication Date: 25-OCT-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: POWERLESS; Smith: Rangers' affairs are being controlled by bank; Bank is in charge of our affairs, says Smith.(Sport)

Article Excerpt
Byline: Fraser Mackie

WALTER SMITH last night became the first Ibrox figurehead to ring a public alarm bell on the money troubles within Rangers by admitting that the club are now being run by banks.

Speaking after the 1-1 draw with Hibs, Smith bluntly conceded that situation was the bottom line of the financial clampdown at the Scottish champions under which he has been operating for months.

Since Sir David Murray stepped down as chairman in August, his replacement Alastair Johnston and chief executive Martin Bain had rejected the suggestion that HBOS were running Rangers.

But that...

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