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BBC Scotland can reveal that a Dubai-based businessman is currently the single largest shareholder in Rangers.

Arif Naqvi, chief executive of private equity firm Abraaj Capital, owns just under 18% after agreeing to invest £2m back in June.

Naqvi is the man behind Blue Pitch Holdings but BBC Scotland understands that he has a personal holding in the club.

Rangers boss Ally McCoist also owns a stake in the club.

 

McCoist has stake of around 4.5% in Rangers

Newcastle owner Mike Ashley is expected to announce his £1m investment next week, securing around 9% of the club.

The way was paved for that investment after Rangers ripped up their deal with retailers JJB Sports in favour of Ashley's Sports Direct company.

Charles Green took control of the club on 14 June, announcing his intention to secure a number of investors from across the globe.

He has always insisted that no one individual will own more than 15%.

Other investors include Imran Ahmad and Richard Hughes from Zeus Capital who own 9.8% each,

Gers boss McCoist has also bought into the consortium and owns a share of about 4.5%.

Scottish-based businessman Ian Hart, who was part of the Blue Knights group, has a shareholding of 1.3%.

The shares will be diluted though after Green launches an IPO share issue allowing fans to buy into the club.

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I have tried to completely avoid all the shite in the media about us, it just depresses me, but it's news to me that McCoist owns a part of this club?

 

Also, I thought the plan was for nobody to own more than 15%? I hope that Mike Ashley dips his toe into the water then decides to buy us outright. The consortium is working ok at the moment but it is never a great long term business plan. The camel's a horse designed by committee and you just have to look at Arsenal to see how much of a power struggle you end up with.

 

I'm personally thrilled that Ashley is investing in us. He has brought Newcastle right back to their former glory as a quality top 4 challenging side in one of the top leagues in the world.

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