Rangers finance director Brian Stockbridge admits the club will need further investment to complete their rise to the top of Scottish football.
But Stockbridge insists there is no need to raise cash just to keep the Scottish League One club going after they announced £14.4million operating losses for a 13-month period.
The accounts showed Rangers had £11.2million, which included £4.5million of 2013-14 season ticket sales, on June 30 despite raising £22million in a share issue last December.
But Stockbridge predicted far better financial results next year following cuts and the end of certain non-recurring expenditure.
He told Rangers TV: “It’s not possible that the club is going to into administration. The club is financially secure.
“We have got cash in the bank, we have no debt, we have got a clean audit report.
“As we go forward, of course there will be investment required to move the club forward as we go through the divisions and up.
“But we are not in financial distress, we don’t need to raise cash at the moment.”
Stockbridge outlined the scenarios where Rangers would need to look for fresh investment.
“If we have a significant project, say to redevelop Edmiston House, or there are significant business opportunities that come by that require investment, then of course it’s prudent for us to do that,” said Stockbridge, who received a £400,000 pay package over the period, about half of which was a bonus.
“But we are not in a position where we are having to raise money to continue to operate the club.
“Any investment is going to be raised to move the club significantly further forward, and of course, as we go forward and up the divisions, there will need to be investment in the playing side as well. That is recognised and accepted.”