Charles Green to give fans chance to own half of Ibrox club with new share issue

[pete 2,544]

CHARLES GREEN is set to keep his promise to Rangers fans â?? by giving them the chance to own half the club.

 

Many supporters questioned Greenâ??s reasons for buying the stricken club for £5.5million and some have backed consortiums fronted by Walter Smith and John Brown. But a stockbroker is now due to arrive from London next week to help the club launch a share issue.

 

And an Ibrox source said: â??Weâ??re going to announce shares will be offered for sale to supporters and this proves what we said at the start.

 

â??Weâ??re bringing a stockbroker up from London. People can come to the ground and register if they want a share.

 

â??They will be given the opportunity to buy shares for the same price as everyone else and if they buy all that are available to them, they will own 50 per cent of the club.

 

â??Contrary to what some claim, weâ??re going to do a lot of things we said weâ??d do and more besides. Things that are not yet public.â?

[foggy dewhurst 0]

this will give the other groups who tried to buy us a chance to invest their own money in the club they love .

[Zappa 0]

This should be interesting. I'm expecting the Zeus Capital crew to value newly issued shares at 10 times more than what they paid for theirs only weeks ago. You could be looking at £25m (or more) just to acquire 50% of the club. If that's their game plan I can see it being an epic failure.

[the gunslinger 3,366]

desperate move that will see a few thousand shares bought for sentimental reasons at best.

[andy steel 0]

Timing, timing, timing!!!

 

This is just going to make us look even worse if it happens before everything else is sorted out, as only those whose hearts rule their heads will invest.

[Zappa 0]

Timing, timing, timing!!!

 

Price, price, price as well. They'll be barking up the wrong tree if they think they can raise £20m to £25m for up to 50% of the club from the fans when they've just bought 100% of the club for £5.5m plus some legal costs and backhanders.

[chilledbear 16]

Make them look even more like money grabbers.

 

Not a wise move.

[kuznetsov 0]

damp squib

[der Berliner 4,208]

Sometimes some comments by the support make you wonder. You want participation with the club? The normal way to do it in Britain is by becoming a shareholder. A few thousand people are shareholders in Rangers FC plc (me included), even though they essentially had no "voice" due to the fact that Whyte or SDM held 75+% of the shares. Now, Green says that no-one will own more than 15%*, so there is a more even split and is doing what he said he would, people come up claiming this will be done by him to rake in money for his ill-fated attempt to get the club running. What, if I may ask, was any share-issue or -selling in the past good for? A good feeling? No. It was to make money to either have the club on a sure footing or to reduce debts. So methinks some folk should get their tainted glasses off and try to stay objective. Without a share issue, a membership scheme, and/or decent season ticket sales, a club of our stature is bound to have problems. No matter how many and how wealthy backers there are. Of course, why people would give Green flak for not coming up with some of the wealthy backers he may have promised is another "interesting" point. For either you can have fan involvement at a grander scale than ever, or you have a handful of people running the club with nigh no fan involvement.

 

*Blue Pitch (?) Holdings have 23% now, but that 15% statement was pre-CVA and the newco-scenario changed the pot quite a bit. Thus, the money invested by BPH was still invested while the number of potential backers became smaller at the time, hence their current stake is greater than proposed by Green pre-CVA. That can be changed though. Just in case.

[andy steel 0]

Fair enough points dB, but few are going to be willing to invest in the present shambles. We need many issue sorted out before we can turn our attention to share issues.