Sir David Murray's rollercoaster ride in 20 years as chairman of Rangers FC (Part 1)

The Edinburgh multi-millionaire businessman has overseen major change on and off the park in that time.

Here, in his own words, is how Sir David described the major milestones in his reign as they happened.

EVERY PICTURE TELLS A STORY (Part 1) 1 - Life-changing day I tried to buy Ayr United, my home-town team. I didn't think I could turn them into a Rangers or a Celtic, but I did think they could become a Dundee United.

To be honest, I had never thought Rangers would be for sale. But I became friendly with their manager, Graeme Souness. He told me: The time is right.' Lawrence Marlborough (the Nevada-based businessman and owner) came into my office and we did a deal.

I bought 76% of the club for £5.2million. I agreed to pay £20 per share with a £5 bonus if everything was in order. There were, though, some things I was not too happy about. I finally paid £22 per share. That meant the club was valued at £7.6m. Immediately, buying Rangers has added a new dimension to my life. My private life has gone completely. But I am prepared to pay that price.

I am delighted that the takeover means a Scottish business remains in Scottish hands. We intend to provide a strong base for the continuing development of the club and its business aspects. 2 - Breaking barriers When I took over Rangers, I was adamant from the outset that we would have to sign a Roman Catholic player sometime. I also said that we would not be into tokenism. If we were going to sign a Catholic we would sign the best one available. That is how we came to land Maurice Johnston.

He was, of course, supposed to be going to Celtic, but there were apparently taxation problems there.

So Graeme spoke to his agent, the player made it known he respected our manager and he agreed to sign. Not surprisingly, it has upset many people.

But our goal was trying to build a football team.

We were interested in putting the best players on the park, not in the sectarian situation.

If I am remembered for anything, I would like it to be that I was an integral part of that. We will buy players regardless of their colour, religion or creed. 3 - Improving Ibrox It is always our intention to provide our supporters with the finest stadium possible. We want to get the capacity of the stadium increased.

We had a crazy situation where we had people who wanted to see a football match being locked out. We have invested hugely in the facilities and have reaped the benefit of that. It will be an ongoing and extremely valuable source of income for us.

In particular, I want top businesses to treat a day at Ibrox in the same way they would treat a day at Ascot or Wimbledon and arrive before kick-off for a top-class meal and refreshments. We are asking people to spend a considerable amount of money and consequently they expect a great deal in return. 4 - Walter's way There was never any doubt Walter would be the next manager. He has a wonderful pedigree and has been waiting for his chance. He was appointed within minutes of Graeme Souness deciding to leave for Liverpool.

In the past, we have needed a high-profile manager to get big players to come here. We don't need that any more. If good players become available then there will be money to go and buy them. I don't see any less money being made available to Walter than Graeme had. 5 - Euro euphoria '93 What Rangers have achieved in Europe this season is against all the odds.

The current domestic set-up is not conducive to any Scottish club doing well in Europe. Remember, our players have been brought up in the hurly-burly of the Premier League. In addition, your typical Marseille player has taken part in perhaps only 36 games this season. David Robertson, for example, has played in 54.

Despite all that our current squad have shown, they are good enough to play at the highest level in Europe. It has been a classic case of boys becoming men. Rangers, and our supporters, have made the Champions League a huge success this season. Our run in Europe has been crucial because it has reduced borrowings, increased gate money and boosted profit. 6 - Nine-In-A-Row The Nine-In-A-Row thing was like a monkey on our backs. We are in a far stronger position now than we were at the start of the run.

Graeme Souness was the catalyst for us at that time when trying to attract players. But now the club itself is the catalyst for big names to come. We have Brian Laudrup and Paul Gascoigne and now Jonas Thern is coming as well. 7 - Breakaway SPL In a perfect world, we would want to play at the highest level. But moving to the English Premiership will not happen in the short term.

There have been some differences in the past when Rangers and Celtic appeared to be on a different wavelength from the rest of Scottish football. What is crucial over the coming years, though, is that we stick together. Being divided simply means there is less money for everyone to share. The game is already entering a financially difficult period. We are all singing from the same hymn sheet again. 8 - Advocaat years When Walter decided he was going to leave, Rangers needed a manager with a proven track record. We could not bring in a maybe'. That would have been unacceptable.

We needed to bring in someone who was English-speaking and who has experience at a reasonable club and European level. We have everything else in place with Dick Advocaat. I have no doubt we can go all the way to matching the very best in Europe. His energy and commitment can drive us forward.

Look what Dick has done already. A year ago Barry Ferguson was a novice. Now he is strutting his stuff in the company of players such as Ortega and Baggio. The way he has progressed is down to the discipline, training and the analysis he gets from the manager. In addition, players like Michael Mols, Giovanni van Bronckhorst and Arthur Numan came because of the manager's influence and reputation. 9 - Murray Park When I first heard the idea of naming the training ground after me I didn't want to go along with it. But, I have to say, this is one of the proudest moments of my life.

It is a major step for Rangers FC and for sport in Scotland. I am very proud of what we have achieved here.

We set out to create a facility to improve significantly the development of young talent in Scotland and I believe we accomplished that. The centre is one of the foremost of its kind.

It would be naive of me to make a rash statement on when we will get the real benefits. Regretfully, money is the most important thing in football today. But perhaps what this will enable us to do immediately is entice those players who might otherwise have been indecisive. I think the training facility will swing it. Signing the contract to build this place could be the best signing this club has made in the last 20 years. 10 - Uefa Cup high Recently, I have really enjoyed being involved with Rangers. Since Walter Smith came back I have shown renewed enthusiasm.

Reaching the Uefa Cup Final in Manchester is a wonderful achievement by the management and players.

I have been involved with the club for 20 years and can't remember anything better. I don't think we will realise what a remarkable time it was until we look back on it.

I have been inundated with requests for tickets. The guy who did my gates five years ago sent me a card. I even heard from a friend in New Zealand who I hadn't spoken to in 17 years.

By rights, we should not be there. The team which beat Fiorentina in the semi-final cost £9m. A club like Derby County has a bigger wage bill. The future...

As I come up to my 20th year, I have won 13 titles and 30 trophies overall. I have been reasonably successful, I have enjoyed the highs and gone with the pain of the lows. That is part of being chairman of a big club like Rangers.

But I don't want to be at Rangers forever. I need to have an exit strategy. Having said that, I will only sell to people I feel are able to take Rangers to the next level. FACT FILE

1988 - The Edinburgh businessman buys majority shareholding in Rangers from Lawrence Marlborough for £6million.

1989 - Sanctions the signing of Maurice Johnston, the Ibrox club's first high-profile Catholic player.

1991 - Appoints Walter Smith as successor to Graeme Souness as manager.

1993 - Enjoys the Gers' incredible 10-game unbeaten run in the newly-formed Champions League.

1997 - Savours the success of Rangers winning Nine-In-A-Row. Helps form the breakaway SPL.

1998 - Makes Dutchman Dick Advocaat the Glasgow club's first-ever foreign manager as he joins from PSV Eindhoven in Holland.

2001 - Opens £14m Murray Park training complex in Milngavie. Names Alex McLeish as Advocaat's successor.

2006 - Brings highly-rated former Lyon coach Paul Le Guen to Scotland as Rangers manager.

2007 - Tempts Walter Smith back to the Govan club for a surprise second stint as boss.

2008 - Celebrates his 20th anniversary as Rangers owner.