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Rangers fans invited to take part in share issue

Rangers fans invited to take part in share issue
© Reuters
Supporters will be allowed to buy shares worth a minimum of £500 and up to a maximum of £100,000.

Rangers hope supporters will help bankroll Steven Gerrard's push for further success after inviting them to take part in a share issue aiming to raise £6.75million.

The Ibrox boss successfully guided the club to its 55th domestic title last term – teeing up a potential £30million Champion League windfall.

But Light Blues chiefs are determined to maximise the financial benefits of their first championship triumph in a decade and are now appealing to fans to help "future-proof" the Ibrox outfit against a repeat of its 2012 collapse.

Rangers supporters will be invited to buy shares worth a minimum of £500 and up to a maximum of £100,000.

Gers vice-chairman John Bennett announced last week the club hoped to be financially self-sufficient within the next 18 months having tallied up losses of more than £80million since emerging from the wreckage of their liquidation crisis.

In this year's annual report, chairman Douglas Park admitted the club would have to raise another £20million by the end of next season just to keep the lights on.

They have secured a major chunk of that in recent weeks, with Far East businessman Stuart Gibson and US tycoon John Halstead joining a group of wealthy investors who have helped to prop up the club.

Now Park is hoping the rest of the Ibrox supporter base can help plug the gap after offering up a fresh tranche of stocks, which will be sold on a "one-vote-per-share" basis.

Park said: "Rangers has been here for 150 years and it's vital that we future-proof the next 150 years.

"The club has to be put in the best possible position and, by widening the ownership to a broader base of like minded supporters and shareholders, we feel it helps put the club on an even stronger footing going forward."

Managing director Stewart Robertson added: "Funds raised will be applied to projects designed to accelerate the financial sustainability of Rangers Football Club, including investing in the new Edmiston House multi-purpose venue, developments at Ibrox Stadium, the acceleration of Rangers' digital transformation strategy and the club's international expansion.

"As a club, we will continue to drive our brand in the European and international arenas. We are indebted to our fan base both domestically and across the globe and know they are the foundation of all our future developments."

Sporting director Ross Wilson also said: "It's a wonderful opportunity to be involved in a football club that is heading in a positive direction and has a solid plan with a lot of fantastic people behind it.

"As we move forward, we see huge opportunities on the European stage, we see huge opportunities and domestically, and the opportunity for people to be part of that should be an exciting one."

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