As not only do the Ibrox outfit currently find themselves sitting pretty at the top of the SPFL Premiership, but they have also announced the raising of funds for the second time in as many months.
Back in October, Asian-based Stuart Gibson increased his shareholding in the club to 8.27% and in doing so, he has now become the fourth biggest shareholder, albeit some distance behind former Chairman and largest overall shareholder Dave King.
King, who stepped down from the role back in March of this year, currently owns more than one-fifth of all available shares in Rangers (22%) and was hoping to announce additional investment from Gibson before his departure.
Unfortunately, with a global pandemic putting a halt on the world, the time for Gibson to buy into the club was far from opportune and although there would have been visible frustration, none more so with King’s departure, the Scottish born businessman has now returned to inject some funds.
While Gibson was not the only investor to buy into Rangers last month, as the likes of George Taylor and Douglas Park took their own shareholdings to at least 10%, while some previous loans were also converted into shares.
All in all, this meant that £4m was added to the club’s coffers and with the 2020 calendar recently turning to November’s page, it has seen the same amount of investment only a few weeks down the line.
According to filings at Companies House, 19,314,931 new shares valued at 20p have been allotted and although this means another financial bonanza of sorts, it is unsure just who exactly has snapped up such an allocation.
Regardless of who the new money men or women are, it will be a shot in the arm for an outfit that are planning on derailing arch-rivals Celtic and their bid for an incredible 10thsuccessive Scottish league title.
Not only that, but the pursuit of victory certainly does not come cheap and when you consider that Rangers’ last reported financial results saw them post a loss of £11.3 million, these newly acquired funds may allow Steven Gerrard the ability to spend in January.
Because with Rangers being where they are on both domestic and continental fronts, the former Liverpool midfielder will want to make sure early efforts do not dissipate and the best way to do it, is by adding a player or two to his ranks at the start of next year.
In a competition where it represents nothing more than an arms race between them and Celtic, just keeping up with their crosstown rivals is simply not enough and this season more than ever, Rangers know that they most topple their biggest enemy.
Not to mention, if Gerrard can lead his team into the Europa League knockout phase at the turn of the year, it will only lead to more prize money from UEFA and this could set them in good stead for the following season and beyond.
Add the fact that Scotland’s UEFA co-efficient ranking currently sees them lie 11thand if they can ward off the likes of the Ukraine and Turkey, then the 2022/23 season would see the previous campaign’s Premiership winners qualify automatically for the Champions League group stage.
Therefore, it does seem that business is booming, not only for Rangers but for the sharper end of Scottish football as a whole and although that might be a good news story, it will only likely continue the domestic duopoly that has been in place for more than 30 years.
Written by Dan Tracey