Rangers boss Ally McCoist has defended himself against chairman David Somers' claims that the decision to sign nine new players last summer was unsustainable – insisting he revamped his squad while slashing the wage bill.
The Ibrox outfit's interim results were released on Thursday and showed a £3.7million loss for the seven months up to December.
At the start of that period, McCoist – whose side visit Arbroath today having already secured the League One title – was allowed to agree deals for goalkeepers Cammy Bell and Steve Simonsen as well as defenders Bilel Mohsni, Stevie Smith and Richard Foster.
Midfield duo Nicky Law and Arnold Peralta were also signed on free transfers, as were frontmen Nicky Clark and Jon Daly.
But in his statement in the interim report, Somers suggested the club could not afford that kind of influx.
He said: "Operating costs had been running at a rate that could not be sustained by the revenue being generated by the club.
"For example, in the period under review, nine players were signed at a time when the club already had the second highest wage bill in Scottish football whilst playing in the third tier."
When asked if he agreed with Somers' assessment, the manager said: "I don't know, I don't do the accounts, I don't do the finances.
"We felt we needed to bring a lot of players in to win the league, to get to the final of the Ramsdens, to get to the semi-final of the Scottish Cup. And we did that," he pointed out.
"I'm led to believe the wages came down from the previous year."