John Bennett WON'T pull money out of Rangers as exiting chairman's £23m investment to stay put

John Bennett stepped down as Rangers chairman – but WON’T take his money out of Ibrox.

He’ll be temporarily replaced by former director John Gilligan, who was a key figure in Dave King’s takeover nine years ago. Bennett has walked away from the role due to health reasons. And it’s understood recent criticism he faced has had a negative impact on his close family and personal life. But Record Sport understands the 61-year-old – who has pumped around £23million into the club - will remain a supportive shareholder and significant investor.

His resignation caps off a miserable reign at the helm for Bennett who was appointed in March last year, taking over from Douglas Park. The lifelong fan and Glaswegian has been on the Ibrox board since 2015 before taking on the top job. But recent events have blighted his time in charge.

Rangers announced his departure in a statement which read: “Chairman John Bennett is stepping down with immediate effect for health reasons. The board wants to sincerely thank John for his service and significant commitment over the last nine years and wishes him a full and speedy recovery.

“It is requested his and his family’s privacy is respected at this time. “Former director, John Gilligan, will temporarily fulfil the role of chairman until a permanent replacement is appointed.

“The Board thanks John for stepping in at short notice and believes his experience in senior business roles throughout a long and successful career, and also, as a former director of Rangers, will be invaluable at this time. The Board is undertaking a robust process with the help of professional advisors to fill the roles of CEO and chairperson. In the meantime, the club’s executive management team will continue to lead the