Rangers plan transfers and Ashley legal action after cutting losses by over £4m - Dave King

Rangers released both a statement from Dave King and the latest set of unaudited accounts for the second half of 2015 this afternoon, and it all looks pretty encouraging.

Rangers' losses from the previous period were £4.6m, and are now down to just £500k, with expenses being decreased by £2.2m and income increasing.by £1.9m thanks to fans returning to Ibrox, despite the club not obtaining the income from the Commonwealth games and international fixtures in the same period previously.

Dave King backed up the good news with a statement in which he laid out his plans to give the manager substantial transfer funds for the campaign ahead, stated that we were close to achieving our main objective of promotion, and praised our cup run as evidence of our progress.

Interestingly, King also spoke more about the Rangers Retail deal, seemingly offering a last chance for a peaceful settlement with Ashley, in the hope that the deal could be renegotiated on favourable terms for the club ahead of next season's new kit launch, and that if that was not the case, a legal framework to fight the unequal deal would be presented at the end of the month.

So, all very good stuff. The full statement is here, and the accounts are here.