According to Keith Jackson, Kyle Fox is prepared to write a cheque for almost £43m to obtain a 25% stake in the Ibrox Tribute Act.
At that rate the American investor can probably expect a call from South Africa with someone desperate to get rid of his worthless shares.
According to the club website there are 432,328,633 shares in the company.
In 2010 Jackson’s arithmetic skills were questioned when he discovered a billionaire from Motherwell but in today’s Daily Record he makes the following claim:
According to sworn affidavits lodged in the US legal system, Miss Fox – who describes herself as a female finance professional – has been scouring Europe in search of the ideal football club in which to pump her millions as a strategic investor.
Miss Fox claims to have had a ‘positive and constructive’ two-hour meeting with deputy chairman John Bennett in London in July during which she confirmed her intention to ‘achieve some level of ownership’ in the club.
Having originally hoped to buy a 75 per cent holding at 25p per share, Fox decided to up her offer to 40p for a 25 per cent stake, which would make the 49-year-old the club’s major shareholder. She also pledged, as part of the package, to hand over £75m as an additional capital commitment.
Using my trusty calculator 75% of the club at 25p per share would cost Ms Fox £81m, 25% of the club at 40p per share would cost £42.3m! Plus £75m additional capital.
That is a lot of money for a company that has never posted a profit, in the year to 30 June 2021 the company posted losses of £23.5m.
Without being a high-flyer like Paul Murray there really doesn’t seem to be much sense in that offer unless your name is Dave King who has been trying for years to sell his stake to Club 1872.
No doubt Keith will have more news for the army of Daily Record readers.
At face value, those numbers look extremely unlikely.
Because it is Jackson who is copying/pasting the content, then it immediately becomes a fairytale.
But, I suppose it’s a useful Ibrox distraction from what’s happening on the pitch? 🙂
Why is this revelation being disclosed now ? Isn’t that the type of news that should be broadcast immediately ,rather than sit on it ! Methinks this amount of money needs to be cleaned and disinfected ,and what better way to do that than invest it in a Scottish football club ! A cack handed news story by the Record to provide comfort to the Bears after Saturdays annihilation !!
Think of the episode Only Fools and Horse’s and them gold chains.
Has jackass had a blow to his head, he is about as good as an ashtray on a motorbike.
more bull@hit the yanks are going to invest 100 million plus for a 25 percent stake so going by that the company is worth around 400 million not bad for company never have made a profit in 12 years since it was formed what load of nonsense the media write boy are they hurting lovely.