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SBD Global/February 13, 2014/Franchises
Rangers Supporters Trust Chief Says Rangers Fan Ownership 'A Long Way Off'
Published February 13, 2014
The Rangers Supporters Trust "has announced it now holds over half a million shares" in Scottish League 1 Rangers after buying a further 200,000 this week, according to the Scotland DAILY RECORD. The fan group's long-term ambition "is to hand control of the club to the Light Blues faithful," and they now hold 557,856 shares after using £52,000 ($86,000) "donated by fans using the BuyRangers direct debit scheme to snap up their latest tranche." However, their stake only equates to 0.86% of the League One leaders' total shareholding, and Trust Chair Gordon Dinnie "admits outright power is a long way off." Dinnie: "There is still a long way to go. ... However, the big issue is availability of the shares. With the current price being so low, when you try to buy them on the market, folk are asking for a few pence more. So it's not a case of buying a £1 million's worth of shares if there is £1 million's worth of shares available" (DAILY RECORD, 2/12).