10 March 2012 Last updated at 06:51 ET

Rangers fans welcome pay cut deal

Rangers fans are setting up a fund to help save the club

Rangers supporters have welcomed wage reductions for playing staff and management, as fans seek to set up a Fighting Fund at the crisis-hit club.

A deal was reached for "substantial wage reductions" for the Ibrox club's players and management on Friday.

Administrators Duff and Phelps, who were appointed on 14 February, had targeted savings of £1m per month.

John Macmillan, of the Rangers Supporters Association, said: "It's a small step forward but a positive one."

"We can progress from here," he added.

The player wage cuts range from 25% to 75% and there are understood to be clauses in the agreements which could trigger the players' departures in the summer.

After the deal, the club should now be able to fulfil its nine remaining fixtures this season.

Mr Macmillan, who is general secretary of the supporters association, attended a meeting of fans' representatives with the intention of setting up a Rangers' fans Fighting Fund.

He said: "I'm sure there'll be a pretty substantial response to this in the fullness of time.

"Money is tight with everyone but I'm sure we'll get big numbers and substantial giving, but it's early days yet."

Rangers legend Sandy Jardine, who was at the fans' meeting, said it had been "very positive" and the details would be announced early next week.