Former Rangers midfielder Alex Rae has claimed that major investment is heading to Ibrox while speaking on Clyde 1 Superscoreboard, as quoted by the Daily Record.
Earlier this month, the club released its annual report for the year ending 30 June 2019 [Rangers.co.uk].
It detailed significant increases in turnover and season ticket sales, but although there was a reduction in overall losses, the figure still stood at a substantial £11.3 million.
For some, especially rival fans, this was a sign that Rangers were once again overstretching themselves and on the brink of financial ruin.
Dave King and co. are confident that the current figures are manageable, though, with continued investment in the club expected over the course of this season [Rangers.co.uk].
Rae is on the same page and claims he has it on good authority that some major developments will take place in early 2020.
“Now it is my understanding at the turn of the year there will be another share issue done, which will provide considerable money,” he asserted on Superscoreboard, as quoted by the Daily Record. “And there will be major investment coming into Rangers.”
Then, after a sceptical retort from the host, Gordon Duncan, he replied: “I’ve heard it from a very high source in Ibrox so I would prefer to believe that instead of anybody from Twitter.”
Verdict
Given the amount of work it has taken to rebuild Rangers, the board wouldn’t flirt with serious financial trouble again.
Therefore, while figures such as an £11m loss may be good for rival fans to latch onto, the situation is under control. For one thing, new Sporting Director, Ross Wilson, wouldn’t have risked leaving the Premier League to join a sinking ship at Rangers.
Although vague, Rae’s comments may be a cause for excitement for Bears.
The main hope is that the Gers can emerge from the January transfer window with major assets such as Alfredo Morelos and Glen Kamara still at the club.
Imminent ‘major investment’ would presumably remove any incentive to sell and who knows, could even free up some cash for further spending, as the quest for a 55th league title continues.
We recently discussed the findings of the club’s annual report on our new YouTube channel.
