You may have missed it this week but the result of Rangers share issue was announced in which it was revealed that the club had managed to raise £4.5million.
The funds will go to key projects like New Edmiston House and for all that the issue fell slightly short of the target, it will be a welcome boost when money is tighter than usual.
With no player sales in the summer, the money will prove to be even more useful and – speaking to Football Insider – finance expert Kieran Maguire has praised the Light Blues loyal for digging deep at a time when new strips are out, season ticket money is due and European football packages are also coming out of their bank account:
“They had targeted £6.75m, but I think that was a stretch target. They didn’t want to curtail the ambition of the fanbase.
“To get £4.5m from fans, many of whom were already buying season tickets and merchandise, is indicative of an unbelievable and dedicated fanbase.
“The fact that money is effectively ringfenced towards infrastructure project, that will please the fans.
“A lot of that is going to Edmiston House, which is going to open some time later this year. So the fans will have a sense of pride.
“I think you have to be realistic, at 25 pence-a-share, I don’t think you’re ever likely to be paid a dividend.
“I don’t think the fans will be expecting a dividend. You aren’t going to get a regular income from buying those shares.”
As Maguire says, reaching the target would have been an incredible achievement give the timing of it, however, it is still a figure that the support can be proud of and on that will be put to good use by the club.
One day – hopefully not far away in the future – the club will be self sufficient and able to run on it’s own two feet without the need to ask investors of fans for additional help, utilising a successful player trading model allied to a fully functioning commercial depart with a merchandise deal that actually helps rather than hinders Rangers.