Date: 26th October 2009 at 12:07am
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Martin Bain will today be replaced as CEO of Rangers by Scottish Rugby Union chief Gordon McKie.

It appears that the Lloyds Banking Group, who are looking to make further savings across the business, have realised that Bain’s exorbitant £650,000 annual salary is not good value for money, something many supporters have thought for a long time.

It appears Walter Smith’s quotes about the bank running the club was just the tip of the iceberg in terms of the upcoming changes at the club.

As we reported earlier, several reliable sources seem certain that current shareholder Dave King will launch a take-over bid as early as this week, with rumours of a meeting between the club and an interested party holding talks on Tuesday doing the rounds.

Keep it on Vital Rangers and the Vital Rangers forums for all the latest information.