Rangers face calamity if £75m Kyle Fox approach isn’t binned in imminent AGM
The Rangers board will meet for their AGM on 6 December, where the £75million pledge from American businesswoman Kyle Fox is bound to be discussed.
Fox is looking to become the majority shareholder at Ibrox by acquiring 25% of the club in a bid that eventually rises to £75million. [Daily Record]
But while the injection of cash sounds great, a deeper dive into Fox’s intentions shows that her intentions are extremely dangerous to the club and its supporters.
Gers fans know more than anyone how harmful poor ownership can be to the club, and the Ibrox faithful are desperate to avoid any situation that bares similarity to the 2012 disaster.
Sadly, Fox’s bid is raising red flags all over the place. Firstly, she and the club have already been tangled in a legal battle this year.
As reported by the Scottish Sun, Rangers actually sued Fox back in August “over claims she tried to flog the club behind their back”.
Fox eventually won the court case and doubled down on her Rangers bid, but her intentions still seem suspicious.
After winning the case, Fox said: “I have always been, and will continue to be, open and transparent with Rangers’ board, shareholders, and investors.” [Daily Record]
No mention of fans. Not only did Fox fail to address fans, but she’s also proved unwilling to speak to Rangers supporters groups about her attempted takeover.
With no proof of funding, only a pledge of cash injection and an alarming lack of communication with supporters and the board – Fox’s takeover poses a huge risk to the board.
With an AGM (annual general meeting) taking place this week, the Rangers hierarchy needs to immediately stamp out Fox’s interest and block any potential takeover.
In other Rangers news, Jamie Mackie slams Michael Beale for his behaviour in the lead-up to his Rangers appointment