Felix Magath has refused to answer questions about a reported £200,000 Rangers share purchase.
Reports on Friday morning claimed the former Bayern Munich boss has bought a one per cent stake in the crisis-hit Ibrox outfit.
It was suggested the 61-year-old did not plan on becoming Ally McCoist’s successor as boss, but he did want to help transform the club’s ailing youth set-up.
However, Magath - who has been out of work since leaving Fulham last September - refused to answer questions when asked about the reports by the Deutsche Presse-Agentur on behalf of Press Association Sport.
He said: “I don’t want to comment on my stock dealings, that’s private.
“I spent the Christmas holidays in London and actually visited someone in Glasgow but I don’t want to comment on whether there has been talks with the club either.”
According to the Daily Record, former Stuttgart and Wolfsburg manager Magath has had talks with parties involved in Rangers - although not Phoenix Suns owner Robert Sarver, who has launched a £20million takeover bid.
However, caretaker boss Kenny McDowall refused to comment on suggestions that the double Bundesliga-winning boss may soon be reporting for duty at Murray Park.
“I don’t think that will be my decision on whether he comes in or not,” he said. “I’ve got a job to do and I’m just carrying on with it.”
McDowall – whose side face a return to Alloa on Saturday, just six weeks on from their humiliating Petrofac Training Cup exit to the Wasps – does admit the club’s football operations do need an urgent overhaul.
He said: “Since the club went into the trouble that we are into, we have been operating without a scouting team.
“The whole thing has got to be addressed at some point but at the moment there is nothing. We have two people doing match reports for us. Obviously they do a bit of scouting for us as well.
“We have got contacts in the game ourselves and that’s what we’ve been relying on.
“This is such a big club and these things should all be in place. Hopefully we will get back to being the way we should be.”
Rangers announced this week they would need emergency cash before the end of the month or face another meltdown.
But McDowall said: “That side of it I’m not involved in at all. I’ve been told to take the football side, which I’m doing, and that’s it. I’m carrying on regardless.
“I’ve had discussions with the chief executive but it has purely been about football matters. I’m quite happy to do that.
“I don’t think there’s any point worrying about the off-field reports. I’ve been told to do a job, I’m doing that job as best I can, and I’ve got to carry on.”