The Scottish Sun reports that Rangers are set for a £20m investment injection courtesy of an Asian investor, a Hong Kong-based backer and a new chairman.
It’s claimed that a deal has been in the making for some time and that there will be an announcement on the boost in funding by the end of the month.
The ‘mystery Asian investor’ was said to have been present at Ibrox for the Scottish Cup Fourth Round tie against Stranraer in January, while the ‘Hong Kong-based backer’ is known to current board members George Taylor and George Letham.
Both individuals could allegedly be in attendance at Sunday’s Old Firm.
With Dave King set to soon relinquish his role as Chairman, his potential replacement, Douglas Park, is also said to be willing to inject funding.
All told the Scottish Sun claims Rangers could be in line for £20m of investment through a share issue.
There are some big numbers being thrown around here and nothing in the way of official confirmation from the club.
Therefore, it would be wise for supporters not to raise their hopes too much.
Even if this investment does come, it doesn’t necessarily mean tens of millions will go straight into the transfer pot for the summer window.
As established in November, Rangers ran at an £11.3m loss for the year [STV] and at least some of any new funds may be used to shore up the business first and foremost.
Yet, while scant on specifics, the report will still provide excitement to many Bears, who, after their team’s collapse in domestic form since the turn of the year, will be hoping enough funds are made available for the Gers to be genuinely competitive in the league next season.