As reported by The Daily Mail, Rangers are seeking fresh investment from outside parties in an effort to provide the working capital that will fund Steven Gerrard’s imminent reign as manager of the Ibrox side.

What’s the story?

The latest reports indicate that Gerrard has agreed a three-year deal to take up the role at Rangers, a deal which was sealed after assurances were given he would have the transfer funds in place to compete with Brendan Rodgers’ Celtic next season.

However, to do that, Rangers will need money beyond their current scope for earning and to that end they’re attempting to get the ball rolling on fresh investment.

That’s according to The Daily Mail anyway, who report that chairman Dave King has held discussions with external parties willing to put money into the club, via a rights issue.

It may not be all plain sailing though, with the also paper reporting that up to this point plans have been delayed due to King’s ongoing battle with the Takeover Panel, who have mandated he makes a compulsory offer for shares in the club.

Can the Ibrox side put their troubles behind them and provide Gerrard with the money he needs?

What is Gerrard inheriting?

Right now Rangers have a fractured first team squad that badly needs a strong hand to guide it forward into next season. There’s been dressing room bust-ups, dreadful recent form, demoralising derby defeats and mistakes aplenty in recent weeks and months.

Not only does it need an attitude adjustment but also new players to come in and freshen things up. Not least because the club have a number of current first team stars only on loan deals.

It will take massive investment and likely all the money the club can possibly afford. Even then there’s no guarantee for success with Celtic currently possessing resources beyond anything they’ve ever had in the past.

There are certainly interesting times ahead in the Scottish Premiership.