The Ibrox outfit are in trouble and have had to appoint administrators to help solve their debt crisis, which has meant that they have been docked ten SPL points in the process.
Whyte is clearly saddened by the state of affairs at the club, and has admitted that his departure is in the offing.
“I will not continue as Rangers chairman post-restructuring,” the executive confirmed in a statement, published in Sky Sports.
“Regardless of administration and irrespective of the tax case, the club had serious long-term structural problems financially and they needed to be addressed with some urgency.
“I knew that when I stepped up to the plate and, despite the accusations and abuse that I have suffered over weeks and months, I was determined to see things through.
“I will admit there have been times when I have wished that I had never entertained the idea of taking over Rangers.
“But I am a Rangers fan, and, like other Rangers fans I don’t do walking way,” he concluded.
By Gareth McKnight
[ffcvideo file=”tfcbtitle3″ type=”mp4″ image_type=”jpg”]