Club 1872 buy 2.25m more shares in Rangers from Dave King Family Trust
Rangers supporters group Club 1872 have announced today (12 April) that they have purchased even more shares in the football club.
They acquired 2,250,000 extra shares from the Dave King Family Trust at 20p per share, totalling £450,000 overall.
The group’s total shares now acquaint to 22,202,838 which makes them the sixth-largest shareholders in Rangers Football Club.
Club 1872 released a statement this afternoon regarding the announcement which read, “Club 1872 is pleased to announce the purchase of a further 2,250,000 shares in RIFC Plc, taking our total shareholding to 22,202,838.
“This represents 5.13% of the total issued share capital of RIFC Plc and returns Club 1872 to the position of 6th largest shareholder.
The shares were purchased for 20p per share at a total cost of £450,000 from New Oasis Asset Limited (Dave King’s family trust). This price represents a 20% discount on the most recent share issue of RIFC Plc.
The year from December 2020 to December 2021 saw Club 1872 take in the largest level of donated funds for a single year in the organisation’s history – a remarkable achievement in such trying times.
“This is testament to the incredible dedication our Contributors have for fan representation at Rangers and we thank them for their continued support.”
Heading in the right direction
No football club can ever operate at the very highest level on purely fan-generated money nowadays, which is a real shame, but they all should have this kind of fan impact.
Having such a large proportion of the club’s board being supporters of the Light Blues should mean that the club remains on track and doesn’t end up flying off the rails and into the abyss, as has happened before at Ibrox.
The major investors and multi-millionaires are still needed to fund the bigger projects at the club but without fan input, things would be a lot different.
It is really how every football club should be run rather than having one dictator of an owner who is in charge of making every decision bar the starting lineup at the weekend.
Today’s news will be music to the ears of Rangers supporters everywhere who know that they are being represented directly to the board by Club 1872 and will be for a long time to come.
In other Rangers news, Charlie Nicholas has raged at some members of the Gers’ board while predicting the outcome of Thursday’s game against Braga.