After failing to sell any of their seven out of contract stars during the January transfer window the Ibrox Tribute Act has issued £1m worth of shares to four investors.
With no European matches in the second half of the season and Season Ticket renewals not due until April the next couple of months look bleak as Micky Beale tries to get Ryan Kent and Alfredo Morelos onto new contracts.
Ross Wilson did manage to get Charlie McCann off the wage bill but that was more than offset by the arrivals of Todd Cantwell and Nicolas Raskin.
In their last published accounts, to 30 June 2022, the Tribute Act noted £19.9m of transfer income during the summer 2022 transfer window with £15m reibvested in the playing squad.
It is believed that Malik Tillman, Ben Davies, John Souttar and Tom Lawrence added significantly to the wage bill.
CLICK HERE for Companies House update on new share issues.
Hi David, sorry clueless on this…so the shares are worth a penny, but somebody has paid 25p for 4,200,000 shares? They need just over a million £ that desperately?
— Denis Maxwell (@lubohenke1967) February 8, 2023
??????? Become a shareholder in Scotland’s most successful football club. @rangersfc shares are eligible to sell and purchase through the Tifosy Exchange.
Explore available shares today ?
Don’t invest unless you’re prepared to lose all the money you invest.
— Tifosy (@tifosy) February 7, 2023
FFP anyone?
Pennywise FC just how desperate are they over in ibrox for cash.
The klubs done more tapping than a blind man’s stick.
A penny a share.
Financial jiggery-pokery at Ibrox ? Come on…? Really ?
You would think that if your club is on an UEFA financial watchlist,
the last thing you would want to do is have yet another Shares Issue,
for Working Capital needs, (doubt it is for specific / ringfenced Capital spend].
Another big red flag has been raised at Ibrox! 🙂
King is furious that he can’t sell his shares as they are so far diluted that 1p a share is more than twice their true value. The Rangers fans are continually fed feel good tripe when they are being fleeced by the directors.
Surely, not Shirley, the value of all the shares issued must be reflected in the
value of Sevco’s Assets ( nae laffin there) minus liabilities tae balance the books.
Which leads to the myriad of questions that none of the ‘succulent Lamb Churnalists’ in the
SMSM have ever addressed I.e how many shares have they issued since 2012
and how does this match up to the value of its Assets, Fixed and Current, and is Ipox valued
at an over inflated amount, likewise it valuations of the playing staff. Are their valuations realistic
assessment of its Market worth or have they been inflated to paper over the cracks of a debt laden
organisation that has persistently flouted EUFA’s FFP rules and are now seeking to hide their
current financial plight from EUFA’s prying eves with regard to the new Financial Sustainability rules.
Surely they wouldn’t go down that path again… would they?
That in case you wondered was a rhetorical question. I think we all know the answer.
You’ve missed the biggest issue of all with these shares being issued…
Club 1872 was set up for the following onbjectives:
“Over the next three to four years, Club 1872 has a number of goals as the organisation aims to make the transition from being a shareholding fans group to one of the major, ongoing investors in Rangers Football Club.
Make significant, direct financial contributions to the financial health of Rangers Football Club through upcoming share issues.
Grow our shareholding in Rangers International Football Club Plc.
Gain more direct influence over decision making at Rangers Football Club through securing a place for Club 1872 on the RIFC Plc board.
Initiate significant, supporter driven projects (eg. safe standing).”
In 2016 Club 1872 had 4,900,776 Shares which was 6.01% of the overall Shareholding
Since 2017 however there have been 23 separate Share Issues and they have INCREASED their holding to over 22.2m (an increase of 354%) but their overall Shareholding has DECREASED by 0.92% to 5.09% of the Overall Shareholding.
Ie they have less control now than they had in 2016 despite purchasing 4 times as many shares as they had in 2016.
Sevconomics.