Rangers manager-to-be Ally McCoist admits that the Glasgow giants are in a bad way financially.
The former 'Gers striker is set to take over from Walter Smith in the summer but says that it will be extremely difficult to strengthen the squad he inherits if the proposed takeover of the club falls through.
London-based venture capitalist Craig Whyte is hoping to finalise his majority shareholdings deal soon and McCoist hopes it happens otherwise his first taste of senior management may be a sour one.
"It's correct to say it's difficult. I have one list here on my left and another on my right - and one is cheaper than the other," he said.
"I can't move on either list right now and might miss out on players on both lists.
"That's the way it is - it's not an ideal situation but we know that and have to deal with it.
"If the wage bill has to get cut again I have another list.
"If things stay the same I will have to cut quite severely and that's horrendous.
"I'm attempting to say to the fans 'We're in trouble, big trouble'.
"If these cuts have to be made then you just have to look at the squad we'll be left with and work out how difficult it will be.
"We will always, always, always strive to be competitive - that's just the nature of our club.
"But it will be very difficult.
"I hate to say that because it might sound as if I'm making excuses before I'm in the job."
