The Rangers fans in the Transfer Tavern have been reacting to a story from Sky Sports Scotland that claims their club’s chairman, Dave King has plans to raise £6 million immediately with the launch of a share issue, but he’s rubbished the idea that the club has new investors. King has been involved in the club as an investor and director since March 2000 and has been the club’s majority shareholder since 2015.
— Sky Sports Scotland (@ScotlandSky) May 7, 2018
Given Rangers shambolic transfer dealings that put them into liquidation happening whilst King was at the club, he’ll be keen to avoid making similar mistakes this time around. The South-African based Scot will be keen on making transfer funds available to his new gaffer, Steven Gerrard. The 37-year-old was appointed on Friday and has been tasked with clawing back the massive gap between themselves and Brendan Rodgers’ Celtic.
Whilst Steven Gerrard is far from proven, even the most experienced of managers would struggle to reduce the gap in quality between the sides. The Liverpool legend will need some investment if he is to change the club’s fortunes. Celtic are currently just one win away from completing Scotland’s first ever double treble after picking up the last five major honours over the last two seasons and having a Scottish Cup final against Motherwell to look forward to in just under two weeks time.
You can read our local Bluenoses’ verdict on King’s comments here:
Technical question. Can he ask shareholders to subscribe for a rights issue whilst he has a mandatory order in place to purchase shares? Seems highly improbable? Surely there’s a risk the rights proceeds then fund the mandatory purchase somehow?
— Gordon M (@gordonm64) May 7, 2018
Strange that Celtic fans think anything financially linked to rangers is fraud. Honestly never realised how many lawyers and financial advisers lived in the east end of glasgow.
— Stephen Paul Waugh (@stephen_waugh) May 7, 2018
— Chris (@ChrisWilson1888) 7 May 2018
Is this to pay for the deadline he missed over the last share issue. The one that was appealed in court. Which he lost. I’m confused.
— Ian Cunningham (@bigiancun) May 7, 2018
bit bit but we're skint. 1.25m a season for Gerrard with a guarantee of 25m season 1. guarantee of Europe a further 20m. over 3 seasons
— Bryan (@gallsyboy3663) May 7, 2018
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— jo-don (@brendanrodgerd) May 7, 2018