Daily Record announce Ibrox cash boost!

It takes a special kind of thinking to portray a football club issuing shares in March as a cash boost.

The sort of thinking that told their army of readers that an unknown billionaire from Motherwell was about to buy out Dave Murray and front-load £25m into a football club facing a massive bill from HMRC.

Back in November 2011 Craig Whyte was introduced to Daily Record readers, with print circulation just above 60,000 Reach Media have switched their focus to Football Scotland to provide upbeat news for their target audience.

Inside Football Scotland it seems that finding lenders to help you out with £1.93m for bills is looked on as a boost- elsewhere it would be a worrying sign for a club that played in the Champions League group stage for the first time ever earlier this season.

Without any January transfer fees or European ties income has slowed down drastically this year with the wage bill soaring after bringing in Tom Lawrence, Ben Davies, Rabbi Matondo and Ridvan Yilmaz.

As a clue to the team at Football Scotland the fact that Ryan Kent and Alfredo Morelos haven’t agreed new contracts should be a source of concern.

Rangers issue more than 7million new shares as Ibrox club generate cash boost

? https://t.co/ivx8JwyNhX pic.twitter.com/iGjSCBgIDl

— Football Scotland (@Football_Scot) April 3, 2023

Football Scotland announced:

Rangers have issued more than 7.7million new shares at a price of 25p each.

The Ibrox club will raise £1.93m from those shares if they are for cash although it is unclear if they are or if they are converting loans into equity, as they have in the past. The news was confirmed to Companies House with the shares allotted on March 30.

They are priced at 25p each with more than 7.7m issued but it remains to be seen how they will be used. In the past the club have raised cash from issuing shares, including in February when 4million were allotted raising around £1million.

‘Rangers issue more than 7million new shares as Ibrox club generate cash boost’ let me correct that – ‘Rangers issue more than 7million new pieces of confetti as Ibrox club generate cash boost’ ?????

— Liam Strain (@LiamStrain8) April 3, 2023

Boost overload all round. pic.twitter.com/KXUtD2PAsL

— Inside The SPFL (@AgentScotland) April 3, 2023

Get the face painter paid with this round of shares It’s only fair.

— Andy McGrath (@AndyMcGrath19) April 3, 2023

But they are signing Tilman and giving Beale the biggest budget in years??? Some is telling lies at that club

— Paul 88ton (@ayton_paul) April 3, 2023

UEFA may have something to say on these issues. Director loans are why the NEWCO are on a watchlist

— CheGuevara (@CheGuevaraTC) April 3, 2023

“Boost”….nicely spun

— Danny (@No_Shinnies) April 3, 2023

Big Budget to spend this summer March 31, 2023 pic.twitter.com/2vSlmW0SOo

— Craig Whyte (@RIPRFC) April 3, 2023