Rangers have issued their second lot of shares in just under two years.
In April 2023, Gers issued 7.7million new shares and 25p was paid for each. Prior to that, a share issue in January 22 brought £14.25m in fresh investment into the club.
The financial gap with Celtic has been an ongoing concern and huge factor as Rangers try to compete on the park after years of underachievement.
As recently as January, Philippe Clement suggested it was an issue as he looked to strengthen his squad, stressing once again that the board are in control of the purse strings.
An in the end, Rangers ended up with just one January signing – the loan of Rafael Fernandes from Lille.
So any sign of new investment and a boost to the coffers ahead of the summer window would be more than welcomed, and it looks to be on it’s way.
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Rangers issue new shares
Paperwork sent to Companies House shows Ibrox chiefs have issued new shares potentially worth up to £18m, it was initially thought.
Price of Football financial expert Kieran Maguire shared this on social media and captioned it simply: “Rangers issue £18m of new shares.”
On the paperwork, the number of shares allotted is listed as 18m, with the amount paid also listed at £18m.
However, Maguire later updated to confirm that the 18m shares were sold at 20 pence each, meaning they would have raised £3.6m.
The shares were allotted between December 20 2024 up until this Sunday, February 23.
Rangers fans react to share issue
Rangers fans are welcoming the news whilst also expecting some paranoia from across the city. There was also some confusion about the amount before it was cleared up by Maguire.
One asked: “What does Wee Tam from Easterhouse have to say about this?”
Another wrote: “Good luck with your notifications today.”
This fan said: “You better turn those notifications off the financial experts will be flooding in any minute.”
Another wrote: “Loaded. New manager incoming.”
While another added: “Someone has paid £1 a share? Is that right? Are we f—— loaded again?”
However there does seem to be confusion with some not trusting the figures and worrying the form has been filled out incorrectly.
One said: “Either someone’s off their head and paid £1 a share or we’ve made a balls up of the form and I’m 99.999999% certain that someone has made a balls up of the form.”
While another added: “This doesn’t look right. Either the current custodians have decided to pay 5x per share what they paid prior to Xmas, they found a new investor willing to pay 5x per share what they themselves just paid or the form has been filled in incorrectly. Latter seems most likely.”
