After the trials and tribulations at Ibrox last summer there had been an upturn in fortunes for the Glasgow side, albeit running away the Scottish Third Division (now League 2) last season.
That was until a few days ago - when Charles Green returned. Green stepped down from his role as chief executive at the club in April amidst an investigation into his links with the club's previous owner, Craig Whyte.
Green has returned to the club as a consultant much to the disgust of manager Ally McCoist who labelled the club's former chief executive as 'an embarrassment'.
Within hours of Mr Green's arrival there was unrest in the boardroom as it appeared that some of the club's shareholders wanted the dismissal of a number of the directors, including current chief executive Craig Mather.
As if things were not bad enough for the Gers, the club announced yesterday that Walter Smith has decided to step down as chairman of the club and a director of the company - coincidentally in the early days of Charles Green's return.
In his statement, Walter Smith said: "It is with the greatest of regret that I have to announce to Rangers supporters that I have decided to step down as Chairman of Rangers Football Club. It is, I am convinced the correct thing to do under the circumstances."
He went on to say that "boardroom change is required" and he would "urge Rangers fans to get fully behind the resolutions which were presented to the board and shareholders."
On top of what is already a mountain of disaster at the Ibrox club is the transfer embargo that is in effect until the end of this summer's transfer window, meaning that until then the club are unable to field any of their new signings.
It's difficult to see anything settling down at Ibrox in the near future but something needs to be done about their problems, and fast. And a change in the boardroom is in dire need.
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