A ‘Buy Rangers’ scheme has been launched by the Rangers Supporters Trust with the aim of purchasing a shareholding in Rangers Football Club.
The launch comes a month after the ailing football club announced that its was intending to float on the Alternative Investment Market (AIM) to raise capital and purchase new squad members.
The Scottish football team was forced reapply to the country’s Football League for readmission to its Fourth Division after financial problems and is now seeking capital market investment to boost its finances.
‘Buy Rangers’ is said to be a community share initiative, with fans purchasing a share in the Rangers Supporters Trust which then functions as a Community Benefit Society authorised by the Financial Services Authority.
Shares will be available at a fixed price of £125, with the maximum amount fans can invest standing at £20,000. Once fans’ investments have been collected, The Rangers Supporters Trust will then buy a block of shares on behalf of all investors when the AIM listing is completed.
Fans, which had previously expressed a desire to invest in their club, were required to make a minimum £500 outlay.
Gordon Dinnie, chairman of the Rangers Supporters Trust, says that the scheme is a great opportunity for fans to invest together and have a meaningful say in the future of the club.
He believes that the more money that is invested, the stronger the collective vote will be.
At the time of the AIM listing announcement, Malcolm Murray, chairman at Rangers, said, ‘We now move on to the next stage which is full recovery and growth. The fans loyalty has been instrumental in getting the club to its feet and the IPO gives them a chance to have a say on club matters.’