Rangers to Raise £16m via Share Issue for Men's Squad
Rangers chairman Andrew Cavenagh has announced plans to raise £16 million in new capital through a share issue aimed at funding investment in the men's first team squad.
Alongside the announcement of a 6.5% increase in adult season ticket prices, Cavenagh confirmed that the share offer will be supported by his consortium and existing club shareholders. The funds raised will be allocated to "support player acquisitions and other club needs."
In a letter addressed to Rangers supporters, Cavenagh highlighted that the total investment since his consortium took over the club in summer 2025 now amounts to £36 million.
He also revealed that the club does not intend to appoint a replacement for Kevin Thelwell, the former sporting director, who was removed from his position in November alongside Patrick Stewart, the former chief executive.
"We do not plan to hire a sporting director. The executive team is committed to being smaller, nimbler, and more entrepreneurial,"
Cavenagh stated.
"We want an executive team willing to get its fingernails dirty. If there is a hole to be dug, we want people fighting over shovels. We want fewer consulting firms and less bureaucracy."
All shareholders will receive a letter regarding the share issue and the resolutions to be approved, with a minimum buy-in requirement of 1,000 shares.
"Increasing the revenue and capital is only part of the path to allocating more resources to the men's first team,"
Cavenagh added.
"If we are going to ask supporters to pay more for tickets, we have an obligation to spend those funds wisely.
"We have shrunk the size and cost of the executive team. We are systematically reviewing every part of the club, looking for ways to be more efficient, thus enabling a greater share of the resources to go to the men's first team.
"The costs to run the club - player wages, agents' fees, security, food and beverage - are all rising faster than the overall rate of inflation.
"We either need the club's revenues to keep pace, or we need to decrease the money spent on the squad. We don't believe this is the time to decrease the player and football budget; in fact, we think the opposite."
Regarding the recent disorder at the Old Firm game at Ibrox, where fans entered the pitch following a penalty shootout, Cavenagh reiterated the club's stance.
"The club has already issued a statement regarding the recent Old Firm match, and I don't want to repeat that statement here, but I also didn't want to ignore such an important subject,"
he said.
"We continue to denounce the disorder, property damage, and especially those who denigrated the 66 souls lost in the Ibrox disaster.
"We fully support the independent review and will work with all relevant stakeholders, while continuing to represent the club and our supporters."
Rangers Seek Premiership Clubs Meeting on VAR
Rangers are also attempting to arrange a meeting with Premiership clubs to discuss the use of video assistant referees (VAR), with the discussion expected to take place within the next two weeks.
Several clubs have publicly expressed concerns about VAR and the overall quality of refereeing in Scotland.
It is understood that Rangers have not ruled out withdrawing their financial support for VAR but generally believe the system will remain in place.
The club may consider investing further in VAR technology, such as additional cameras, if there is confidence that increased investment will improve decision-making quality.
The upcoming meeting will focus on identifying ways to enhance the refereeing product and achieve better value for money.
Recent Board Changes and Managerial Support
Last month, Paraag Marathe, who was the club's vice-chairman and also chairman of Leeds United, stepped down following discussions with UEFA regarding multi-club ownership.
Another director, Gene Schneur, also left his role at Rangers during the same period. Neither position will be filled.
Cavenagh expressed his support for manager Danny Rohl as the club approaches the title run-in.
"We are three points off the lead, with seven matches to play,"
he said.
"We have complete confidence in Danny, his staff, and our squad. We will approach each match as it comes, and fingers crossed, we will be at the top of the table after 38 matches."
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