Football finance expert Kieran Maguire has revealed Glasgow Rangers have issued a further £2.2m in shares as they continue to raise funds.
Maguire reveals more investment
The coronavirus pandemic has hit clubs across the country hard financially, but the Gers are doing all they can to bring in as much extra cash as possible.
After issuing £3.25m in shares earlier in March, they have now released a further £2.2m. This comes after the Gers brought in £8m in a similar fashion towards the end of last year (The Scottish Sun), now taking the total well over £10m.
This could well be the perfect time for the Ibrox outfit to carry out such a plan. For obvious reasons, the Gers need money from different avenues more than ever given the aforementioned pandemic. The virus has prevented fans from being able to attend games throughout the whole of the campaign, and a full Ibrox stadium every two weeks is usually a huge source of income for the 55-time Scottish champions.
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Not only that, though, it could also be important from a competition point of view. Next term, the Gers have a chance to qualify for the Champions League groups stages. While Steven Gerrard’s men reached the Europa League round of 16 this campaign, even the qualifying stages for the Champions League could provide a step up in quality. To be able to compete at that level, the Gers will need immediate funds to bring in better players – this now gives them the possibility to do that.
In other news, Rangers eye this 27-goal striker.
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