Rangers have been making encouraging progress off the field since Dave King swept into Ibrox and gradually began purging the club of those that sought to destroy it.
The recent news that Club 1872 have invested further funds into the club through the purchase of shares, is a further sign that steps are being taken to ensure that the events of 2012 are never seen again.
Well respected football finance expert, Kieran Maguire, believes that despite it being an encouraging start, there is still a long way to go, as reported in an interview with Football Insider:
“It’s a very democratic model and I’d be delighted if Club 1872 achieve their objecative.
“Once they get to 25%, it will allow them to block things that they don’t feel are in the best interest of the club.
“But given the history of what we’ve seen with Rangers in terms of owners and governance issues, the fans have a right to be concerned.
“Two days ago they bought 1.25m shares from Dave King. But in total, they’d need to buy 66 million. So it’s a small step, but it will allow their voice to be heard to a greater level
“This is great in theory, but it will cost them £13million on top of their original investment. That’s going to be the challenge. It would be an amazing achievement for the fanbase.
“Rangers fans are totally committed to the club, but it’s a lot of money to expect the fanbase to put together.”
As Maguire alludes to, there is a plan in place for Club 1872 to purchase all of Dave King‘s remaining shares in the club to take them up to and over a 25% share in Rangers providing a greater level of protection in the future.
Will Club 1872 reach the magical 25%?
Yes
No
What mustn’t be forgotten though is that around 95% of the shares held in the club are already owned by fans of differing levels of wealth and that there is a level of security that they bring to the boardroom, that they continue to put their money where their mouth is proves that they have nothing but the best intentions for Rangers.
King’s vision was self sufficiency and for the fans to have a big say in how the club is run, we aren’t quite there yet, but we’re certainly on the right tracks.