may 4, 2017 - Mike McGill tells the trial: 1. that he acknowledged that Rangers had used the firm Ticketus to obtain "short-term working capital" of up to £6m prior to the Whyte takeover 2. That Bain (£360K) and Horne (£160K) received bonuses “for the Rangers sale being concluded 3. He has “no recollection whatever” of discussing a wider use of Ticketus by Whyte and no knowledge of sale of 3 years season tickets 4. Initial deal was £5.5m for 100% of the shares, later reduced to a “notional pound”

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Mr McGill said that in 2011 Rangers had about 40,000 season ticket holders who would pay money into the club.

That income could be used to obtain cash from Ticketus "up front" if the club needed it.

However, Mr McGill insisted that he would not do "multiple-year deals" with Ticketus as it would be "unpalatable to mortgage the club's future in that manner".

He admitted this had not been shown in the club's accounts - but claimed there had been "no desire to hide" it.

Mr McGill acknowledged that using Ticketus might have been a "sensitive issue" for some supporters.

This was after Leeds United FC, in effect, sold off season tickets before hitting serious financial problems.

https://www.bbc.co.uk/news/uk-scotland-glasgow-west-39802380