Rangers chairman Douglas Park has been blown away by the club’s supporters after what the Gers have described as a ‘phenomenal’ response to their share offering [Rangers.co.uk].
The offering was announced on 1 June, with key figures from the club such as deputy chairman John Bennett, managing director Stewart Robertson, sporting director Ross Wilson and manager Steven Gerrard all appearing in a video that explained the process and encouraged fans to pre-register.
🆕 Announcing the Rangers Share Offering.#RangersFC is pleased to announce the launch of its share offering, providing supporters with the opportunity to acquire ordinary shares at a pivotal moment in its history.
— Rangers Football Club (@RangersFC) June 1, 2021
Rangers are aiming to raise £6.75m of investment and the process has got off to a very promising start.
“We have been overwhelmed by the response,” said Park [Rangers.co.uk].
“We knew that there were a significant amount of people wanting to own shares in Rangers, but still we’ve been astonished by the number of people signing up. It is a testament to the commitment and loyalty of our amazing fans.”
For fans to sign up individually, there’s a minimum investment of £500 and a maximum of £100,000.
However, there’s been a development since the initial announcement that ensures that those who aren’t in a position to part with several hundred pounds can still get involved.
The club have agreed that through fan group Follow Rangers, supporters will be able to contribute sums as low as £10, which will then be combined with other small cash contributions into a bigger lump sum.
The lump sum will then be used to buy shares on behalf of those who contributed, with each individual receiving their own certificate after the process is complete.
“We have been in dialogue with managing director Stewart Robertson and large shareholders,” said Follow Rangers director John McKee [The Scottish Sun]. “We are delighted at how helpful Rangers have been since the announcement was made.”
“Stewart put us in touch with James Pollock of Tifosy and he has registered Follow Rangers to participate in the issue.”
The Follow Rangers scheme will charge an initial £5 joining fee but all other contributions will go straight towards the buying of shares.
This is an exciting time for the Champions and it’s clear in the numbers that have pre-registered for this share issue and renewed season tickets, that fans are both content with how the club is being run and determined to do their bit to keep it at the top of Scottish football.