Rangers News

Rangers backed on finance deal as expert reveals “FIFA are investigating”

|
Image for Rangers backed on finance deal as expert reveals “FIFA are investigating”

Rangers commercial department has really been earning it’s money recently and with the lack of fans presenting a black hole in finances, other measures have been taken by the club to see them pass Celtic both on and off the pitch.

One of those has been an increase in partners and in Bitci.com, the club has embraced the world of cryptocurrency and bitcoin with the company’s name being added to the list of sponsors on the match day kit.

Speaking to Football Insider, money expert Kieran Maguire has backed the move which puts the club at the forefront of modern finance:

“A lot of clubs are exploring cryptocurrency. FIFA are investigating it as well as a means of ensuring that money doesn’t disappear in terms of transfer fees and things of this nature.

“So it’s a watching brief, that’s what we have at present. From Rangers’ point of view, it may be that fans buy into the cryptocurrency which will then be used to buy merchandise with the club.

“It’s good that it sort of locks the fan in because you can only use it for a limited number of purchases at present. So you might as well go and buy the home shirt and the away shirt because you bought £100’s worth of the cryptocurrency.

“It could certainly be beneficial. There is certainly a lot of intrigue and interest in this at present.

“At the same time, there’s an element of risk because a lot of people are wondering how secure it is. But to date, while the prices are very volatile, cryptocurrency is pretty reliable.”

Would you be happy to see naming rights to Ibrox?

Yes

Yes

No

No

There are some things that will irritate the traditional fan, having sponsors all over the strip is one, renaming the stadium is another. For me, the bigger picture has to always be about what is right for the club’s finances, we need only look back to 2012 and the failings of the administrators to see how catastrophic failing to make the most of a club’s assets can be.

Share this article