A LONDON-based City investor who has bought a 1.2 per cent stake in Rangers has vowed to buy even more shares.
Kieran Prior yesterday purchased 785,000 shares in the club at a cost of almost £400,000.
The 34-year-old former Goldman Sachs trader now hopes to increase his stake and has attempted to reassure worried fans by insisting he has only the club’s best interests at heart. Prior has now promised to investigate the inner workings of Rangers following weeks of boardroom turmoil and said: “I can confirm I’ve purchased 1.2 per cent of the club and I plan to increase my stake in the next 24 hours, subject to supply. I’ve put my money where my mouth is.
“I understand the scepticism by fans around my appearance on the scene, given the way they’ve been mistreated in the past. However, it’s my aim to instil a degree of confidence among the supporters and I’ve done what I said I would do.
“I’m no knight in shining armour but now I can look inside the club and ask questions to which the fans deserve answers to.”
Prior, who has cerebral palsy and has been disabled since birth, is originally from Salford but now based in London. He is now one of the most significant individual shareholders in the club. He has one of the highest IQs in the world and runs private equity firm Pri Arc. He joins the list of Rangers shareholders following weeks of uncertainty behind the scenes at Ibrox.
Prior has said he would be interested in a boardroom role at Rangers but only if he is invited by the club’s current directors.
He said: “If I’m offered a board position I would not decline it but directors should be voted on, not placed there or coerced into position. It would be an honour to be offered a non-executive position on the board.” Former Rangers manager Walter Smith was installed as the club’s chairman last month after Malcolm Murray agreed to step down from the role.
Reports in the days before the announcement suggested the 65-year-old was set to quit Ibrox over reported attempts to oust Murray from the board.
However, instead of stepping down from his role as director, Smith was elevated to the post of chairman.