Kieran Maguire moots behind-the-scenes Rangers talks amid key £6.75m development
The Rangers hierarchy will have assured the club’s current stakeholders behind the scenes that their power will not be diluted as they offer shares to fans.
That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively after Rangers announced a share issue on Monday.
The club is seeking funding to the tune of £6.75million and supporters will be able to invest between £500 and £100,000.
Fans trust Club 1872 has invested heavily in the club since agreeing to purchase former Chairman Dave King’s shares last December.
But this deal is different in that shares are being effectively offered on the open market, though fans must pre-register to be eligible.
However, supporters expecting seismic change in the day-to-day running of the club will be left disappointed as current shareholders’ power is protected, explains Maguire.
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He told Football Insider correspondent Adam Williams: “When you put out the share placement, you’ve got to take into consideration not only the new shareholders but also the impact on existing shareholders too.
“If we increase the number of shares, if I owned 100,000 shares in Rangers previously, I might own, say, 6 per cent of the club.
“But if we have a new share issue, I will now have the same amount of shares but my stake in the club will decline.
“But I think what Rangers will have done is spoken to the existing shareholders and told them that this new share issue isn’t going to be huge, we’re talking a few per cent.
“Therefore, it’s not going to have a negative impact on their existing ownership. So you have to take into consideration both the existing and the new shareholders.”