Rangers reject fans group’s £500,000 loan offer

Rangers turned down the loan offer because the club is 'not considering further loans at this time'. Picture: John Devlin

Rangers turned down the loan offer because the club is 'not considering further loans at this time'. Picture: John Devlin

32
Have your say

RANGERS have turned down an offer from a supporters group of a £500,000 loan, insisting the club is ‘not considering further loans at this time’.

The Ibrox club denied approaching the Rangers First group seeking funding, and insisted that no discussion had taken place with chairman Dave King.

A statement from Rangers read: “Rangers First was not approached by the club for funding and, despite what has been incorrectly reported, had no discussion whatsoever with Dave King that their funding, if accepted, would be matched by Mr King.”

Keep up to date with all our sport news on The Scotsman’s Sport page on Facebook

Rangers First had posted a statement earlier this week, asking members to ‘decide whether or not to join with Dave King, the Three Bears and others and offer [Rangers] a loan of half a million pounds.”

The statement added: “The loan will be interest free, unsecured and will run until a share or rights issue can take place with a longstop date for repayment of two years.”

But the club insisted that any offer from Rangers First would be considered as ‘part of any future fund raising.’

The statement said: “Rangers remains committed to forging even closer links with supporters and the club is working on a new initiative to make this possible.

“It is hoped all of the club’s fan groups, including Rangers First, will participate fully in acquiring a larger stakeholding in the company and this initiative by Rangers First could be incorporated into such a proposal.”

Back to the top of the page