Man United co-owner Sir Jim Ratcliffe (Image: Leicester City FC via Getty Imag)
Rangers director Alastair Johnston has revealed that the club's new chief executive, Patrick Stewart - formerly of Manchester United, will be tasked with exploring potential multi-club partnerships with international rivals.
The former chairman shared this news as the Ibrox board faced shareholders at their AGM, the Daily Record reports. Johnston suggested that Rangers could follow in the footsteps of Manchester City, who have established numerous global partnerships aimed at maximising profits from player recruitment, development and sales.
This strategy is also being explored by Hearts and Hibs, following their agreements with English Premier League clubs Brighton and Bournemouth. Johnston believes Rangers may consider this approach after discussions with the management of Europa League opponents OGC Nice, who are part of the same Ineos group as Manchester United.
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Stewart, a former Old Trafford chief, will begin his role at Ibrox on December 16. Speaking to approximately 1,800 fans at the shareholder meeting, Johnston said: "We were in Nice last week. I had lunch along with several of my friends, fellow directors and officers.
"And the owner there was Jim Ratcliffe who, through his company has authority of Manchester United. But he basically owns everything else. We're looking right now at different issues as to whether or not club formations can be a pathway for us.
"For example, everybody knows Manchester City's got clubs under its umbrella. I think that's one we may be looking at more carefully. In terms of the new CEO coming in from Manchester United, I would look for him to provide a lot of advice in that regard, and how we basically improve our bottom line by collaborating."
The news raised eyebrows among fans at the Clyde Auditorium. But even that did not come close to matching the shock that filled the room as Finance Chief James Taylor confirmed the club had only netted a paltry £800,000 from the summer's player sales of Todd Cantwell, Scott Wright, Sam Lammers, Connor Goldson and Robby McCrorie.
A figure that appeared in this year's annual accounts, was mistaken by some supporters who assumed it was a typo. But gasps broke out as he stated: "Yes, confirmed. £800,000 is indeed the number. In terms of the player trading model, it's not been working. It's not been working for a number of years. That isn't a new problem for this football club. It's an on-going problem that we need to address and we need to take a different view on."