By Jonty Banks

7th Mar, 2023 | 9:40am

Rangers board continue to invest working loans with £12m injection - Four Lads

The Rangers board have continued their injection of working loans into the club, with the most recent £12million fee effectively working as an “overdraft facility”, according to Four Lads Had A Dream.

The report shares that Deputy Chairman John Bennett and Danish investor Julian Wolhardt are currently the two members providing the loans to the Ibrox club.

Taking to their blog on Tuesday (7 March), Four Lads Had A Dream shared that a total of £5.8million of loans have also been turned into equity by the investors.

They wrote: “The board also continue to provide working loans, with John Bennett (£10.2m) and Julian Wolhardt (£1.8m) currently providing £12m which is more or less an overdraft facility.

“The investors have also just turned £5.8m of loans into equity. All of this is again available from last accounts.”

Balancing the books

Such news isn’t a great sign for the club going forward, but they have at least managed to convert almost half of these loans into equity which can help to strengthen the balance sheet.

If Michael Beale really hopes to bridge the gap to Celtic at the top of the Scottish Premiership, he will need all of the financial support he can get, with transfers at a premium right now.

In the January transfer window, the Englishman spent his money frugally in what looks to be a strong month of investment thanks to Todd Cantwell and Nicolas Raskin’s bright starts at Ibrox.

Add into the equation the sale of Calvin Bassey Ajax last summer as well, and suddenly a clearer picture emerges of Rangers’ financial situation right now. The Covid pandemic would have been a financial disaster for many clubs across Europe – including Rangers – and now they are trying their best to catch up.

In other Rangers news, Michael Beale has dropped his biggest hint yet that one player could join Rangers in the summer.