Dave King confirms Rangers investment plans
Rangers chairman Dave King has confirmed that the Ibrox giants will be raising £6million in new funds through a share issue next month – but admitted that there is no new external funding coming into the club.
The Light Blues have been surviving on loans from shareholders in recent months but are expected to convert those into shares before raising an additional £6million.
King confirmed there was no new investors on the horizon – but did hint that talks were ongoing with existing investors in the Ibrox giants.
“At this stage, there is nothing external other than existing shareholders and investors,” King said, as quoted by the Daily Record.
“We’re not talking to anyone new who is not there already.”
Football Insider verdict
Not having new investors lined up isn’t a big surprise but King will need to make certain that he can get as much from those already involved with the Light Blues. With existing loans set to be turned into shares, as well as an additional £6million raised, then the Gers are continuing to take steps in the right direction. If the Ibrox giants can get their player recruitment right in the summer then there will be real cause for optimism amongst Gers fans going into the new season as they look to end Celtic’s dominance of the Scottish game. If the Gers can get back to regularly competing for trophies and playing in Europe then they will be much better placed to attract new investment – either from new or existing sources – get back on an even keel on and off the pitch for the first time in a almost a decade.
In other Rangers news, both the Gers and Celtic are in the running to sign this £100,000-a-week Premier League midfielder who will be available in the summer.
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