Stuart Gibson has been revealed as the latest Ibrox investor after £8m of shares were recently released.
With Dave King due to have a loan repaid and Ross Wilson unable to sell any assets during the transfer window there were serious concerns about cash flow with no money coming in from glamour friendlies or Europa League qualifiers.
At last years AGM King promised to fill a £10m funding gap but in March he walked away to concentrate on his South African business interests.
During the close season around £10m was committed to transfer fees for Kemar Roofe, Cedric Itten and Ianis Hagi with significant sums still outstanding for the transfers of Ryan Kent and Filip Helander.
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The Glasgow (Evening) Times reports:
SCOTTISH businessman Stuart Gibson has made a £5million investment in Rangers to become the fourth largest shareholder at Ibrox.
Documents lodged at Companies House earlier this week showed that £8million worth of shares in RIFC plc had been allocated and Gibson is the main money man behind the transaction.
Gibson – who was born in Paisley and now operates in the Far East- previously provided a £1million loan to Rangers and has now stumped up a further £4million in cash to secure an 8.27 per cent stake in the Light Blues during the latest Ibrox share issue.
The property tycoon is the founder of the Redwood Group and is currently the co-CEO of ESR, a leading real estate firm that operates in China, Japan, South Korea, Singapore, Australia and India.
His significant Ibrox investment comes as George Taylor, Douglas Park and George Letham also put more money into their boyhood heroes to further strengthen Rangers’ financial position.
The report doesn’t confirm if it is Gibson or the ESP Group that have stumped up to keep the lights on. The latest share issue further dilutes the stake held by Club 1872 who stumped up £750,000 to help buy out Sports Direct’s stake in the company in 2017 when a new retail contract was negotiated costing the club £3m.
