Rangers chairman Dave King has confirmed that he does not expect there to be any external investment at Ibrox over the summer, which means that the club will have no choice but to raise funds by offloading players.
One player that the Light Blues will surely have to get rid of is Alfredo Morelos, who was widely reported to have attracted big money bids from China ever since the January transfer window.
On Monday, Gers chief King dropped a bombshell about the club’s finances going in the summer as he was quoted by STV as saying: “At this stage, there is nothing external other than existing shareholders and investors.
“We’re not talking to anyone new who is not there already.”
The South African business added that he is yet to make a decision on a fresh cash injection at the club, but is thinking about raising £6million via a share issue.
“We haven’t decided, but at the moment I am thinking about £6m new cash in the balance converted to loans,” King also said.
This is not great news for any Rangers fan and in order for Steven Gerrard to build a team worthy of competing with Celtic – the club must cash in on Morelos.
In February, Gers fans blog Four Lads Had a Dream, which has been a reliable source of news surrounding the club in recent months and has broken stories before the established media, claimed on their Twitter account that Morelos, 21, was close to being sold in a deal worth £11million.
However Rangers managed to hang on to the Colombian, who cost just £1million when he signed from HJK Helsinki last summer, and proceeded to get him to sign an improved deal in March.
Morelos has been key to the Rangers first team this season. He has scored 18 goals in 42 appearances across all competitions for the Glasgow club, but since he agreed a new deal two months ago, he has only found the net three times in the Scottish Premiership.
The Gers will now enter the summer with their fingers crossed, hoping that his poor form has not seen his value depreciate in any way, because selling him for a good fee could be the biggest hope the club has for a successful 2018/19 campaign with Gerrard.