Kieran Maguire of the Price of Football podcast has made further comment on Rangers growing financial standing and evolution following the Scottish Premiership title success.
His comments came in the wake of Rangers share offering to fans last week in a move that is anticpated to raise around £6.75 million – certainly that is the aim.
Ibrox deputy chairman John Bennett was very vocal and prominent in the launch of the offering, stating this this was a point to consolidate and to move the club forward.
On the venture, he told Rangers official website:
“It’s a growth phase that we’re asking fans to come and help us with – and be part of.”
“When I think about what somebody gets from buying shares in Rangers, I think of it from my own perspective. What do I get? What is my motivation for investing?”
“It is owning the DNA of the Club. It is owning the heritage of the Club. It is owning the pioneering spirit of the Club.”
Whilst there is an obvious emotional appeal to the share issue, the continued strengthening and evolution of the Ibrox club off the pitch cannot be understated.
That is directly underpinned by success on the pitch, allowing the club to access greater revenues and income streams, primarily in the form of the Champions League.
Ambition
Kieran Maguire was speaking to Football Insider on the ‘recovery to growth phase’ for Scotland’s Champions:
“It really was a case of using money from shareholders and directors as a means of keeping the ship afloat, i.e. allowing Rangers to recover by going through the divisions.”
“Now they’ve given Steven Gerrard sufficient funds to have a real go at the Premiership, which he has achieved.”
“Now, Rangers are in a position where their main ambition is to get to the group stages of the Champions League where the club can evolve and grow its revenues.”
“If we take a look at Rangers’ accounts in 2013, they had £19million in revenue. That’s gone up to £59m in 2020.”
“So they had a huge drop and they broadly managed to get back to where they were at the start of the decade and now they want to push on.”
“They know there is a limited amount of domestic revenue that they can generate so therefore they’ve got to look at it from a European point of view.”