By Anthony Onifade

8th Feb, 2023 | 6:10pm

Ibrox bank set for new cash injection after Rangers news drops today - report

Four million more shares have been issued in Rangers’ holding company at a total cost of £1million, according to the Scottish Sun.

The report states that the latest transaction in Rangers International Football Club PLC went through at the end of last month and was communicated on Companies House today.

A total of four million shares were allotted – and bought at 25p per share. It is reportedly the first set of transactions this calendar year and comes after similar allotments [February 2022] in two tranches of five million (£1.25m) and four million (£1m) at the start of last year.

It is not known whether the new shares are being issued as a cash investment or for the conversion of previous loans into equity.

This news comes after the Gers announced their most positive set of results in a decade at the end of last year. A headline figure from the club’s year-long figures up to the end of June was reportedly a turnover of £86.8million -which is a club record.

Sustainable model

Such news being reported further highlights the impressive sustainable model currently being incorporated at Ibrox which draws to a very exciting future.

The club have sold and recruited well, hence the impressive figures being reported and also means that they are arguably at their best financial position for a long while.

Whether this all leads to future investment in recruitment is another matter, but this all points to an exciting model being built ever since Michael Beale’s appointment in November.

There’s no reason why the Gers can’t go on and further strengthen their hand both domestically and in Europe becoming one of the most attractive and most sustainable clubs on the continent.

In other Rangers news, a Celtic-mad manager has grudgingly admitted that the Gers are alongside the Old Firm rivals as a top eight club in Britain.