Donations to the Ibrox fans group Club 1872 have virtually dried up.
Earlier this year the Rangers Supporters Trust and Rangers First groups were merged to create one voice and one funding source for the club.
In the early months of 2015 Rangers First made a number of share purchases as fans rallied to donate to support Dave King’s push for regime change.
At their December meeting, 21 months after Mr King took control of the company, Club 1872 announced to members that they have only managed to collect £1m for further share purchases.
Running costs for the company in the 12 months to June 2016 were £26.8m meaning that Club 1872 has funds to pay the bills for around two weeks, assuming that costs haven’t increased on the back of Mark Warburton’s summer spending spree.
In contrast to events at Ibrox the Foundation of Hearts has invested £1.6m in their club over the last 12 months as they continue to back the Edinburgh club after avoiding liquidation through a CVA.
Since being founded in 2013 the Foundation of Hearts has invested a total of £4.3m into the club. Hearts have no soft loans or going concern warnings in their audited accounts.