Rangers fans may soon have a genuine say in the running of their club, but there are more hurdles to jump before they reach that promised land.
So says football finance guru and new Football Insider columnist Kieran Maguire, speaking exclusively to correspondent Adam Williams after Club 1872 announced their purchase of 1.25m shares from ex-Rangers chairman Dave King.
It’s a deal which sees the supporters trust eek further towards the crucial 25% shareholding mark, which will be surpassed when the planned purchase of Dave King’s remaining shares is complete.
But before the trust reaches that milestone – which will give them a veto over executive decisions – they may be faced with another fiscal obstacle.
“What happens if Rangers need fresh investment? Do they then have to go and raise more money?” Maguire asked Football Insider.
“If they can’t raise the money and other directors do pour money in, Club 1872’s 25% falls to 24, 23, 22% and so on.
“This could be an ongoing issue until Rangers become self-sufficient. The club has been very reliant on investment to fund operational losses the club has had in recent years.
“The frustration from Club 1872’s point of view is that they would have expected to have held lots of fundraising events over the year, but COVID is gonna make that much more difficult.”
Club 1872 was formed in 2016 as a coalition between Rangers First and the Rangers Supporters Trust.
With this most recent move, they become the sixth-biggest shareholder in RIFC, behind Borita Investments, Stuart Gibson, George Alexander Taylor, Douglas Park and New Oasis Assets.