Douglas Park has provided an exciting update on potential new Rangers investors, as quoted by Rangers.co.uk.
The club’s interim chairman discussed a number of issues with the Sunday Newspapers, with the Q+A published in its entirety on the Gers’ website this morning.
Most questions were linked to some degree to the ongoing feud with the SPFL, but questions were also posed regarding the state of the club’s finances.
Back in November, it was forecasted that the Gers would require an additional £10 million in funding to make it through the season [Scottish Herald].
Yet, it seems that the issue has been resolved.
“The funding gap referred to has already been filled by existing investors,” he said, as quoted by Rangers.co.uk.
Park then made an exciting comment when asked whether or not wealthy Asia-based businessman Stuart Gibson was still poised to inject fresh funding into the club.
“All of the potential new investors remain fully engaged and we will be in a position to announce something in the next couple of months.”
Verdict
Park’s responses here clear up several question marks surrounding Rangers’ finances.
Amid the global health crisis, fans of rival clubs have consistently pointed to the £10 million investment gap as evidence that the Gers are on the brink of another financial collapse.
It’s been made abundantly clear here, though, that not only has short-term viability been secured, but that future investment is very much on the horizon.
There’s every chance that it’ll be some months before football returns in Scotland. Therefore, an injection of fresh funding a little down the line will be most welcome.
It seems that, contrary to speculation, Rangers are in a strong position, despite these unprecedented circumstances.
