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Ally McCoist has utmost faith in Rangers chief

Rangers boss Ally McCoist believes chief executive Graham Wallace is committed to helping the embattled Ibrox club solve its off-field troubles.

The fallen Glasgow giants have been forced to launch a £4million share issue in a desperate bid to raise cash.

It is understood the club are confident of selling at least 15 million shares having previously warned they would face an "uncertain" future if the rights issue – which closes today – failed.

But despite their optimism, doubts about the club's long-term viability remain.

Rumours have suggested the Rangers directors are considering going back into administration while there have also been reports of a split between Wallace and club board chairman Sandy Easdale.

McCoist says he expects to see Wallace around for the long haul.

The manager – who claims he has received no word of an impending financial meltdown – said: "If Graham needs to tell me anything about the running of the club then he will tell me.

"One hundred percent he wants to steer the Rangers ship back to the top. There is no doubt in my mind. I don't (fear going back into administration) because I have been reassured by the chief executive.

"I'm not a financial man. I don't see the accounts, I don't know the accounts. I don't know the expenditures. That's not my job.

"If there is a side to it where we go into that situation again I would expect to be informed but I certainly haven't been anything but reassured."

The club's financial situation was put into even sharper focus when they admitted to the Stock Exchange that they had just £1.5million of accessible cash left in their accounts as of June 30.

The latest round of negative headlines – which have also included the revelation that naming rights to Ibrox were sold to Sports Direct tycoon Mike Ashley for £1 by former chief exec Charles Green – are the last thing McCoist's side need as they prepare for tonight's Scottish Premiership clash with Raith Rovers.

But winger David Templeton was doing his best to stay focused.

He said: "We've not had any meetings about anything. As far as I know everything is good."

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