Private Eye has pried into the Ibrox share issue that Scottish publications are doing their best to ignore.
Launched soon after taking Season Ticket money from their fans a company called Tifosy was brought in to raise £6.75m, minus their fees which are believed to be around 20% rather than a fixed rate.
Over the last four years directors and mystery investors have poured in millions to balance up against losses, in their last audited accounts losses of £15.9m were recorded on turnover of £59m for the year to 30 June 2020.
It seems that the stream of high-net-worth Blue Noses has run dry. Just 13,000 of 46,000 Season Ticket holders required to take up the share issue but the fans that walked away in 2012 have again kept their money in their pockets.
With another cash shortfall on top of Steven Gerrard’s Champions League KO the pressure is on transfer guru Ross Wilson to raise at least £20m in the final week of the transfer window.
Last week the club launched an exciting new Lotto game to pay for a club museum, it’s believed that Kemar Roofe is on a contract worth £45,000 per week.
Oops pic.twitter.com/qWfKoijcB3
— Richard McGinley (@Richiestoke) August 20, 2021
Rangers try to drum up investors in the share issue with a little inducement. pic.twitter.com/fKp221oZRx
— GrandOLTeam (@JBLuvsCeltic) July 14, 2021
Rangers chose £6.75m (€7.87m) for their share issue. a full prospectus is required if over €8m. A prospectus requires more recent & complete financial info, including risks, contracts, etc,. The 2012 IPO had a 122-page prospectus w/40 pages of financial info. (1) pic.twitter.com/GVkX0elYim
— GrandOLTeam (@JBLuvsCeltic) June 18, 2021
Rangers launch £6.75 million share issue to fans as vice-chairman John Bennett aims to to ‘future-proof the next 150 years’https://t.co/MVvp585EbX pic.twitter.com/e1EXsHrXGS
— Daily Record Sport (@Record_Sport) June 1, 2021
They are actually revolting. You mean they’re rebels. They’d like that.
— Richard McGinley (@Richiestoke) August 20, 2021
those companies supplying services to Rangers better ask for money up front, lest they end up bankrupt like the previous creditors
— C Roberts(Occupation by force is so last empire) (@CRobertsonUK) August 20, 2021
If the Directors of Rangers aren’t buying their allotted shares as per previous months could be an indication that their own businesses maybe aren’t turning out the profits to plough into The Rangers.
— Pasty (@Pat407) August 20, 2021
When Rangers2012 turned their back on share issue ,it’s no surprise that club turns to a lotto to squeeze even more money out of their gullible supporters. It’s only a few yrs ago since Rangers held a regular fund raiser and they use to ask the winner not to take the whole prize
— Celticda08 (@celticda09) August 18, 2021