Kieran Maguire lifts lid on £750,000 Rangers ‘issues’ amid Dave King claim
Rangers currently have a number of ‘internal issues’ at Ibrox with an ongoing ‘conflict’ between Dave King and other shareholders.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the behind-the-scenes chaos in Glasgow.
Football Insider sources first reported on 19 April that Rangers have issued new shares worth £750,000 to the club.
It is the third time this year that the club have issued new shares, and the club’s valuation now sits at around £112million.
Rangers posted record turnover of £86.8million in their latest accounts release in November, but there have since been a number of behind-the-scenes changes at Ibrox.
Douglas Park and Ross Wilson have both departed the club, and Rangers also announced on Tuesday (25 April) that Managing Director, Stewart Robertson, is also set to leave the club.
Maguire insists that there are boardroom issues at Ibrox and that shareholders seem to have ‘different objectives’ to each other.
“Given some of the internal issues operating at Rangers it’s no surprise that they are taking a little-but-often approach to expanding the number of shares,” Maguire told Football Insider.
“There are a number of different shareholders with different objectives at Ibrox and also what appears to be a conflict between Dave King and some of the other executives at the club.
“The £750,000k figure isn’t a huge amount of money, but it’s more to do with providing capital for infrastructure projects.
“Infrastructure in particular is an area where the club has plenty of space to improve and it needs to be addressed sooner rather than later.“
In other news, Kieran Maguire suggests what Rangers are really worth after £112m takeover news