Scottish Championship side Rangers Chair Dave King has "promised to bring in a clutch of new players in the summer" after announcing the club had "slashed operating losses" by more than £4M ($5.7M), according to Gavin Berry of the Scotland DAILY RECORD. The Ibrox side is "preparing for life back in the top flight" with Manager Mark Warburton's side currently 14 points ahead of nearest challenger Hibernian. Rangers revealed an operating loss of £500,000 for the six months up to Dec. '15 in its "latest unaudited accounts" -- a figure that is down from £4.6M from the same time last year. Revenue also increased by £1.9M to £11M. King said, "It was always anticipated that further acquisitions would be necessary to compete in the Premiership if promotion was secured." King insists the club is "now emerging from the trauma of recent years and is hoping to swerve any more legal battles with Sports Direct in the ongoing battle with Mike Ashley’s firm." Several investors helped repay the £5M ($7M) loan that was due to the sportswear brand, with King reiterating the "controversial" retail deal was signed by club representatives with a "clear conflict of interest." King: "We are no longer powerless to deal with issues that confront us. The Board will not stand by and allow Rangers to be negatively impacted on any front and will continue to challenge decisions made prior to regime change if they are damaging to our ambitions for Rangers" (DAILY RECORD, 3/7).
