After just 24 hours the Daily Record is dulling down hopes that Stuart Gibson is about to plough millions into Ibrox. A source close to Gibbo has admitted that he is continuing to focus on Asia.
Tuesday’s edition from the Glasgow publisher was very bullish as they announced:
Property funding expert Stuart Gibson is on the verge of ploughing millions into Rangers and becoming the most influential figurehead in the Ibrox boardroom.
Record Sport can reveal the Japan-based businessman was in Glasgow last week to meet with the current regime as he edges closer to completing a deal which will see Dave King step away from his position as chairman.
Paisley born Gibson has made his fortune in the Far East since moving there in 1999 and his real estate company ESR boasts of having more than £1.5billion worth of assets under its management.
With the club riddled with outstanding legal issues on top of the missing £10m that was highlighted in the Going Concern warning in the Annual Report it seems that Gibbo is a little more hesitant than first claims of ‘ploughing in millions’.
Today’s Record explains:
The real estate tycoon declined to make any comment when contacted last night by Record Sport . But close connections in the Far East confirmed that talks are ongoing as the Paisley born businessman weighs up the terms of his investment.
A source said: “Stuart thinks it’s still a bit premature to make any official statement. He’s considering investing in the club but he has not been in talks regarding taking over the club from Dave King. He’s just a well-meaning fan trying to support the club. In the meantime, Stuart will continue to focus on his business in Asia.”
It’s understood no set timescale has been agreed between the parties but, with Rangers in need of an urgent fresh finances at a time of global crisis, the Ibrox club will be hoping Gibson’s cash boost will arrive before the end of this month.
Reading between the lines it seems that Gibson won’t be ploughing in millions in the next 13 days.
The suggestion that a ‘cash boost’ is needed before the end of this month sounds ominous on the back of missing out on the ‘pies n programmes’ cash that would have been brought in from the Glasgow derby.
Since announcing a £10m funding gap and being unable to sell any players in January there has been speculation over when the cash will run out.
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It looks unlikely that Ibrox will host a football match in the next two months while the wages of Jermain Defoe, Steve Davis, Ryan Kent and Filip Helander need to be paid alongwith Andy Halliday, Jamie Murphy and Wes Foderingham.
