Rangers chairman Malcolm Murray says claims that the club could once again face administration as scaremongering.
In an article in Forbes Magazine Jon Pritchett, who advised American tycoon Bill Miller, said that Rangers needed a combination of a culture change and severe cost cutting to avoid a repeat of the financial problems that led to the old company falling into liquidation.
But Murray denies the claim
"For the avoidance of doubt, there is no risk of the club going into administration and any suggestion otherwise is scandalous and appears written to attract headlines," said the chairman.
"Projections Mr Pritchett had sight of have not been relevant since May and, from the day I became chairman, I have been committed to ensuring this club lives within its means and never again comes to the brink of collapse.
"We have already secured significant investment in the club from the individuals and organisations who are part of our consortium."
"What is also clear from his article is that Mr Pritchett completely underestimated the loyalty and commitment of the Rangers’ fans.
"In addition to the 36,000 season ticket holders so far this season, the attendances at our home matches have surpassed many of the top clubs in England and the rest of Europe."