Reliable journalist: Dave King to raise £6m, details if there is external Rangers investment

Rangers chairman Dave King is not expecting any external investment in the club ahead of the summer transfer window, according to a reliable journalist.

STV reporter Raman Bhardwaj claimed on his personal Twitter account that King, who held a press conference on Monday, will raise £6million for the Light Blues through a “share issue” in June, but as it stands, that could be it.

After announcing Steven Gerrard as manager last week, many thought that the Liverpool legend would have only agreed to move to Glasgow after being backed financially by the club.

Football Insider verdict

There is going to be a lot said about this because pundits such as Chris Sutton all assumed that Rangers would be set for some external investment ahead of the summer transfer window in order to build up a new squad. However that doesn’t seem to be the case as £6million is not going to be anywhere near enough unless the Light Blues do somehow manage to find a cash injection from elsewhere. Gerrard would have surely known that this would have been the case unless King has been unable to deliver on a certain promise. Rangers need a lot of money in order to close down the gap between themselves and Celtic. They probably need three, four, or even five times the amount that King is looking to raise through this “share issue”. For a fanbase that demands instant results, this might not be the news that they want to hear.

In other Rangers news, this 6ft 4in giant heading to Ibrox instead of Celtic is the first example of the Gerrard effect.

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