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Rangers deny making a move for Valencia assistant Cathro

By Robert Jones

Rangers insist they have not made an approach to Valencia to speak to assistant coach Ian Cathro.

A club spokeswoman said that there is no truth in rumours suggesting the Ibrox outfit had made an offer to the Spanish giants for the 28-year-old former Dundee United youth coach.

Kenny McDowall is in charge of the Light Blues for the remainder of the season after boss Ally McCoist was placed on gardening leave.

Cathro is one of the hottest prospects in European coaching despite having not yet reached 30.

He was spotted by former Scotland manager Craig Levein during his stint as Dundee United boss running coaching classes for youngsters in Tayside and was invited to revolutionise the Tannadice youth set-up.

He helped unearth Ryan Gauld and played a significant part in the development of a number of other promising players.

In 2012, he was appointed assistant manager of Portuguese outfit Rio Ave after Nuno Espirito Santo spotted his potential.

After the duo guided the side into the Europa League, Santo was offered the head coach role at Valencia, and he took the young Scot with him when he made his switch to the Mestalla last summer.

Meanwhile, the crisis-hit club admit they will need to borrow yet more cash before the month is out.

The troubled Ibrox outfit admitted in their accounts last month that they are £8million from safety and have until April 1 to find the cash.

But now the Light Blues board say they will have to find new income before the end of January if they are to survive.

Just six days into 2015, the club has already been forced to sell off highly-rated youngster Lewis Macleod to Brentford for just £850,000 and take a £500,000 loan out from football board chairman Sandy Easdale.

Despite the possibility of a second administration disaster in three years, an £18million takeover bid from US financier Robert Sarver was turned down after the board claimed his offer was not big enough.

However, the board have urged the owner of NBA side Phoenix Suns to help out with more loans.

In a statement issued to the Stock Exchange on Tuesday, the directors said: "The Company is managing its cash resources carefully and will require further funding before the end of January. This is likely to comprise loans in the short term and possibly equity in the medium term."

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