Rangers have had a lot to cheer about this season between a new merchandise deal that sees money going to the club, signing promising young players for next to nothing, a successful European run and, of course, winning the Scottish Premiership title but the good news keeps on coming.
Rangers issue 16.25 million shares at 20 pence each raising over £3m if a cash issue. pic.twitter.com/OEChBAUkX0
— PriceOfFootball (@KieranMaguire) March 21, 2021
Football finance expert, Kieran Maguire, reported on Sunday that Rangers have issued 16.25million shares at 20p each which, if it is a cash issue, will raise over £3million. There has been no secret made of the fact that Dave King eventually wants his major shareholding to be sold to fans through 1872, however, his latest interviews have suggested that he is in no hurry to see this completed.
The share issue could come from Club 1872’s recent project which saw them raise over £2.5m which would see them further increase their holding, King’s dream was always to have the club protected from the likes of Mike Ashley in the future and with every penny invested by the fans group, they get a step closer to seeing it come to fruition.
The moon howlers will claim that that the money is to “keep the lights on” but it is the way that we have been operating for years, directors converting loans to shares so that we remain debt free, Douglas Park and John Bennet have both underwritten the funds needed for this season but it is something we should see less and less as our commercial success grows alongside the success on the park.