A report in The Sun claims that two mystery investors are set to invest £20m into Ibrox.
There is little in the way of detail to the report other than ‘a mystery Asian investor and a Hong Kong based backer’ being mentioned.
Over the last two years share value has been greatly diluted to repay The Three Bears for propping up losses. Further dilution to bring fresh money in would be near impossible although Dave King is famous for imaginative investment plans. Any share issue would require board approval to have their ‘investments’ further reduced.
The Sun reports:
RANGERS are closing in on £20million worth of investment through a share issue which could bring about significant boardroom change.
SunSport understands a mystery Asian investor and a Hong Kong-based backer are poised to plough millions into the Ibrox club.
Douglas Park, tipped to become chairman when Dave King officially stands down later this month, will also provide further additional funding. An announcement confirming the Ibrox windfall is expected to be made before the end of month.
Since formation in 2012 by Charles Green the club has made significant losses each year with Douglas Park, George Letham and George Taylor pumping in millions which have been converted into shares.
With outstanding legal claims against the club from Sports Direct, Hummel/Elite and Memorial Gardens any investment would be exceptionally risky with the shadow of pay-outs which could tot up to around £10m hanging over the company.
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Recently a plea was made through social media to find a kit supplier for next season with that area the most lucrative aspect of a club’s business.
