By Kieran Maguire

15th Nov, 2021 | 7:00am

Kieran Maguire tells Rangers fans to 'expect sales' after Ibrox source reveal

Rangers may need to sell players to pay off their debts now that they have moved from a recovery to a growth phase.

That is the view of finance expert Kieran Maguire, speaking exclusively to Football Insider about the Scottish champions’ balance sheet

Rangers confirmed on 11 November that Steven Gerrard had left the club to take the managerial position at Aston Villa.

Ibrox sources have told Football Insider that Gerrard had become frustrated that transfer funds had dried up at Ibrox.

The same report also details how some Rangers investors have ceased converting loans into equity and expect to be paid back with interest.

And Maguire predicts that, while their debts are not a huge concern, player sales may now be inevitable.

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“Most of the loans from directors are on lengthy terms,” he told Football Insider correspondent Adam Williams.

“So there is no short-term cash flow stresses. But they will have to embrace the player trading model that Celtic have, i.e to expect sales.

“John Bennett knows they don’t have to sell players but that it would be silly not to if they receive a good offer.

“I don’t think there’s any need to worry about those loans being repaid. I think the big issue was dealing with Dave King. That loan has now been repaid.

The investors have been very benevolent to date. But they don’t have investors of the same magnitude as some Premier League clubs.

“So these people are entitled to an interest-based return on their investment because they are helping the club cover its running costs.”

In other news, pundit suggests John Terry has “made it clear” to Rangers board after Ibrox source reveal on next manager.