Scottish Championship Side Rangers Respond To Consortium Funding Offer

Scottish Championship side Rangers "could be close to securing fresh investment from a consortium which includes Douglas Park," according to Chris McLaughlin of the BBC. Businessman Park, George Letham and current shareholder George Taylor offered the club £6.5M ($10M) "in return for shares and representation on the board." Rangers directors "responded to the offer with investment options including buying in through a share issue or secured loan." The board "is open to negotiations regarding representation." The group has already provided Rangers Chair David Somers "with proof of funding" (BBC, 12/30). In Glasgow, Keith Jackson wrote "Somers pleaded for someone to save Rangers from financial meltdown in the New Year -- by sending out begging letters at 4am on Boxing Day." Somers "sent the emails to a number of wealthy individuals in a bizarre early morning attempt to raise the millions needed to keep the Ibrox club in business in January" (DAILY RECORD, 12/30).