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SBD Global/February 6, 2014/Franchises

Fans Of Scottish Rangers Take Steps To Launch Bid For League 1 Club

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Scottish Rangers supporters are hoping to buy the club.
A number of Scottish League 1 Rangers fans "have taken the first steps towards launching a bid to buy the club on behalf of the Ibrox support," according to the SCOTSMAN. Supporters Direct Scotland "has been called in to offer advice on setting up a scheme" similar to the one being used by fans of Scottish Premiership side Heart of Midlothian "to rescue the stricken Tynecastle club from administration." The Hearts scheme "collects monthly contributions from supporters and it is thought a similar scheme could be used by the Light Blues faithful to buy shares in the club on the stock market" (SCOTSMAN, 2/5). SKY SPORTS reported "a number of Rangers fans will meet later this month." Head of SDS Paul Goodwin claimed last week that a scheme involving around 25,000 supporters handing over around £20 ($33) a month "could eventually hand the Rangers support control." If the fan bid was successful in gaining that level of support, it would build up a sum of around £4.8M ($7.8M) within 12 months, allowing them to potentially buy a 25% stake in the club (SKY SPORTS, 2/5). The PA reported the Rangers move "has been prompted by the deep unhappiness amongst the Ibrox support about the way the club has been run since Charles Green took control 18 months ago." The club announced a £14.4M loss for the 13-month period up to June with reports suggesting the club is still losing £1M ($1.6M) a month (PA, 2/5).
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