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Rangers shareholders are working on plans for a new £10million rights issue before th


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But the new board's immediate priority is to make sure Rangers are all right just now. That is why they have arranged a £1.5million interest-free loan from the Three Bears that is not secured on any assets.

 

 

It is a far better option than accepting another £5m loan from Mike Ashley. This way, the directors don't have to be looking over their shoulder at what Ashley is doing. Nor do they have to accept two of his representatives on the board.

 

We know the club is strapped for cash. We know not a lot can be done until a decision is made on whether Dave King is passed "fit and proper".

 

As soon as that happens, there will be a share issue. There is talk about £10m being raised through investment from King and the Three Bears.

 

I don't think that will be the end of the fund-raising. They will speak to other investors about ploughing money in.

 

There are difficult times ahead. But at least there are people in control now with considerable professional expertise and the best interests of Rangers at heart.

 

http://www.eveningtimes.co.uk/rangers/rangerscomment/murray-revelations-wont-be-the-last-bombshell-from-the-new-rangers-201581n.121684204

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