Rangers have announced a new name for the board after the club confirmed that John Halsted is to take up a more official role.

A previous investor, the American is exactly the type of individual that is needed in the modern game when every penny makes a difference.

What Rangers have secured is a seriously impressive figure from the world of finance in John Halsted and one who will help to take us to the next level, as revealed by the club’s official website.

Rangers FC v Liverpool FC: Group A - UEFA Champions League
Photo by Jan Kruger – UEFA/UEFA via Getty Images

Chairman, John Barrett, has a background in investments and this is probably where the connection come from.

Halsted was a founding partner of a firm that now has a total committed capital of £8.6bn and he has recently sold £665m worth of stock.

In short, he has a bob or two.

Rangers chairman delighted to welcome John Halsted

A Harvard graduate, Rangers have acquired the input of a hugely respected professional who John Bennett was quick to praise:

“As well as being a consistent investor in the club over recent years, John has provided valuable insight and support to the RIFC Board and the executive management team.

“We look forward to benefiting yet further from his strong business acumen.”

Rangers FC v Liverpool FC: Group A - UEFA Champions League
Photo by Simon Stacpoole/Offside/Offside via Getty Images

The chairman is definitely more global in his approach to running Rangers compared to Douglas Park.

Appointing James Bisgrove as CEO is also an indication of the direction that he wants to take the club.

Rangers need people like John Halsted involved because, if money is needed from the board, it should never have to come from just one source.

It spreads the risk and provides a security that wasn’t in place when we needed it most.

It would be good if he could divert some of that £8.6bn into Michael Beale’s transfer kitty though!

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