Football finance expert Kieran Maguire has shared some enticing insight on what the funds raised by Glasgow Rangers fans will be used for at Ibrox.
The Lowdown: Rangers fan share
After a meeting with managing director Stewart Robertson, fans have been offered the chance to help future-proof the Glasgow club.
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Gers supporters have been given the chance to gather their resources via the fan group Follow Rangers, and can now take part in the scheme for as little as £10 – £500 was initially required for them to buy a stake at Ibrox.
Stakeholders will have voting rights and will be allowed to attend the annual general meeting (Football Insider), and Rangers have now decided what they aim to do with all of the funds raised.
The Latest: Maguire shares insight
Speaking to Football Insider, Maguire has shared that vice-chairman John Bennett would like to put the money into growth projects, and will primarily be used to help improve the infrastructure:
“I believe that Rangers have spoken to some other fan groups as well as Club 1872.
“This would allow them to vote as a bloc. It is a form of democratisation that will help.
“I spoke to John Bennett for the podcast (The Price of Football) and he is very clear in what he says. He wants to put the money into growth projects.
“There’s Edmiston House which is going to be used as a museum and for conferences, so in that, they are trying to sweat the assets and be business-savvy.
“Rangers fans can welcome this because the money isn’t being used to pay down the loans which the directors have put in.
“The investment is there to ensure that club continues to grow as they come out of their recovery phase. It’s for infrastructure, primarily.”
The Verdict: Can only be a good thing
The fact that the Gers have decided to invest in growth projects and the overall infrastructure of the Glasgow club can only be seen as a good thing in the longer term.
As Maguire points out, the investment will ensure that they continue to grow as a football club for the long term, coming off the back of a very successful season in which they snatched the Scottish Premiership title off of the hands of Celtic.
The opportunity to become a stakeholder is one that a lot of Gers fans will take with open arms, as they can truly have their own voices heard as they plan for what comes in the near future and beyond.
Nonetheless, the scheme is one that seemingly benefits all parties involved with the club.
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