Kieran Maguire reacts to ‘pivotal moment in Rangers history’ as club set for near-£7m boost
Rangers fans are unlikely to have any real power despite the club’s recent decision to make shares available to the Ibrox faithful.
That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively after it was announced on Monday that fans will be given the chance to invest in Rangers.
The Ibrox club has set a £6.75million investment target and supporters will be able to buy into the club to the tune of between £500 and £100,000.
In an accompanying statement, the club wrote that this is an opportunity to “future-proof” the club at a “pivotal moment in [its] history.”
The shares come with voting privileges and the right to attend the club’s annual general meeting.
But, as Maguire explains, votes do not necessarily equate to meaningful power within the club.
He told Football Insider correspondent Adam Williams: “The main thing this gives you the right to do is appointing directors at the annual general meeting.
“That’s what you tend to use your votes for. If there’s an extraordinary general meeting, then you would again have a vote.
“But the maximum amount one individual can buy is £100,000’s worth of shares. At 20p each, that is 500,000 shares out of a total of 430million.
“So you aren’t really going to have much influence because you get one vote per share.
“The board generally nominate directors for shareholders to vote on. You could potentially nominate someone if you got enough people to come forward.
“But if this share issue goes out fully, we’re probably still only talking six or seven per cent of the total shares. So it would be very difficult.”
In other news, Rangers set sights on signing Dutch goalscoring midfielder after transfer mission.