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Dr Dan: Rangers stakeholders not seeing eye to eye amid £450k Club 1872 share development
We’re delighted to welcome football finance expert Dr Daniel Plumley as our exclusive columnist. Each week he’ll be giving his views on the biggest talking points at Rangers...
Club 1872 already have a meaningful say in the inner happenings at Rangers and are looking to strengthen their position.
That’s according to Dr Dan Plumley who claims that this is what has led to friction behind the scenes at Ibro.
A number of people in the Gers boardroom do not want them to have such a large say in what goes on behind the scenes.
This comes after Club 1872 purchased 2,250,000 extra shares from the Dave King Family Trust at 20p per share, totalling £450,000.
In doing so, they became the sixth-largest individual shareholders with more than five per cent ownership.
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Discussing what this means for the club, the Sheffield Hallam University expert told Ibrox News,
“You can have a low percentage in terms of share ownership, but have a meaningful say in the governance.
“It could be in the agreement that everyone’s got a meaningful say.
“Problems come to a head when you can’t come to a meaningful agreement and then they say, ‘You’ve only got five per cent.’
“Club 1872 are the sixth-largest shareholders and they have got quite a meaningful stake in the club.
“They’re looking for more power by buying more shares and that’s part of the problem, the friction that goes on behind the scenes.
“There are a lot of people sitting on the other side of the table, not wanting them to take up more shares.“
The price Club 1872 purchased the shares at was at a 20 per cent discount in April 2022.
From December 2020 to December 2021 they took in the largest level of donated funds for a single year in the organisation’s history.
In other Rangers news, the club are ‘not convinced’ by a key first-team player and an early termination of his contract is extremely likely.