After years of secrecy Club 1872 have revealed that they have 6,150 active contributors as they plan for the day that the Ibrox Tribute Act are a fan run club.
With 45,000 Season Ticket holders it means that six out of seven supporters aren’t contributing to buying over the company.
Back in their hay-day of June 2017, Club 1872 paid Mike Ashley £1m for his shares with Hong Kong investor Julian Wolhardt paying Ashley a similar amount with Sorts Direct maintaining their merchandise and retail deals.
Since those heady days when they were in Dave King’s inner circle interest in the Fans group has tailed off with internal arguments and being cold shouldered by the club since King walked away.
With 6,150 contributors paying £18.72 per month that puts £115,128 into the kitty to create a total of £1,381, 536 per annum. Taking off expenses and running costs in a best case scenario Club 1872 is raising £1.3m a year.
In April of this year they paid Dave King £450,000 for 2,250,000 shares which they claimed took their holding to 5.13% of the company. On the company website Club 1872 are listed as having 4.62% of the shareholding.
King currently has 65,422,893 shares through New Oasis Holdings, another 29 similar purchases and they’ll have bought out the former club chairman without putting a penny into the club.
After posting a loss of £21.5m for the year to 30 June 2021 the Ibrox company have still to release their 2022 accounts.
With a pay out to settle the Sports Direct case and repaying Dave King’s £6m loan it is debateable whether a profit will be posted despite fees for Steven Gerrard and Nathan Patterson along with the run to the final of the Europa League.
A big con ,for Delusional fans of a dying entity.