Rangers board responds to consortium’s £6.5m offer

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RANGERS have responded to an offer of fresh investment from a consortium which includes Douglas Park, according to BBC Scotland.

It emerged on Boxing Day that businessman Park, George Letham and current shareholder George Taylor had offered the troubled club an injection

Ibrox Stadium. Picture: John Devlin

Ibrox Stadium. Picture: John Devlin

of £6.5 million in return for shares and representation on the board. Rangers said in their annual accounts released at the end of November that £8m would be required in January to keep the club afloat.

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A new share issue is due to be launched in the new year and Park, the owner of coach firm Parks of Hamilton, Letham and Taylor want to buy the 40,739,000 shares set to be issued. Though current shareholders will have first refusal on the new shares following a vote at the club’s Annual General Meeting earlier in the month.

BBC Sport reported yesterday that Rangers directors have responded to the consortium’s offer with investment options including buying in through a share issue or secured loan and that the board is open to negotiations regarding representation.

Meanwhile, Rangers midfielder Lewis Macleod is poised to complete a £1m move to English Championship side Brentford.

The 20-year-old, who was called up to the senior Scotland squad for the recent games against Republic of Ireland and England, is expected to be in London for a medical today. The £1m fee has already been agreed between the clubs. Brentford are lying sixth in the English second tier and former Rangers defender David Weir is No 2 to manager Mark Warburton.

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