Interim chairman John Gilligan told the club website: “Undoubtedly, it has been a challenging period for the football club with significant change occurring both on and off the park throughout both season 2023-24 and over the summer months.”

He pointed out that John Bennett had stepped down from his role as chairman “in order to focus on his health” but “remains a supportive shareholder and investor”.

James Bisgrove had stood down as chief executive to join Al-Qadsiah in the Saudi Premier League and Creag Robertson departed as director of football operations.

“Whilst we continue our search for the outstanding candidate for the CEO position, we retain a strong executive team within the football club led by our chief financial officer, James Taylor, chief commercial officer Karim Virani and our director of football recruitment, Nils Koppen,” Gilligan said.

“All three were recruited in the period under review and, as you can see from our underlying performance, there have been significant steps made in a short period of time in delivering against our strategic objectives.”

Gilligan again apologised to fans for the delay to completing work on the Copland Road Stand that led to a switch of four games to the national stadium at Hampden Park.

“The support received at Hampden was outstanding and epitomises the link that our great club has with our supporters,” he insisted.

“With the Copland Road stand now complete, we are extremely proud of the work undertaken to upgrade and improve the facilities for our disabled supporters.

“They truly are now some of the best facilities in Europe and are evidence of the board’s commitment to continue to modernise and improve Ibrox and the wider campus.”