At a recent Rangers shareholders’ meeting, a supporter rose to deliver a polished yet foreboding warning to the club’s new American owners.
“Proceed with caution — our loyalty has limits. If this slide continues, the mood in the stands will see people stop turning up or buying what you’re offering.”
As he handed back the microphone and took his seat, around 800 fellow shareholders responded with loud applause.
That exchange came four days before those same supporters watched their team exit the Europa League after a 1-1 draw with Jagiellonia Bialystok at Ibrox.
The outcome starkly reflected the side’s stuttering start to the season under new manager Derek McInnes.
Four games, two draws and two defeats.
And as the former Hearts boss searches for solutions on the pitch, the board would be wise to heed the shareholder’s warning.
If fans decide they’re not buying what the new consortium is offering, the owners will struggle to balance the books.
With Rangers faltering on the field, the boardroom will recognise that fan loyalty is essential to any turnaround.
In short, with the on-field product underperforming, the owners must restore customer confidence.
As previous regimes have learned to their cost, that’s easier said than done.
Confidence comes from winning — and winning brings in the money.