Rangers lodge transfer-related documents with loan secured
Rangers appear to be planning for future incomings and outgoings and have secured an unspecified bank loan.
This loan is of an unspecified amount and was taken from Macquarie Bank.
The bank with headquarters in Sydney, Australia, has a history of providing loans to football clubs.
Companies House documents state future transfer fees will be paid to the lender
Rangers Review reported on 11 March that documents lodged with Companies House depict that future transfer fees will be repaid to the lender.
This development suggests a strategic pivot driven by pressing financial needs, despite past resistance from the hierarchy.
It may be possible that the club are facing immediate cash flow shortages, possibly from operational costs or delays in expected revenue like season ticket sales or the San Francisco 49ers’ takeover, necessitating quick funds.
| Shareholder | Stake |
| Dave King | 12.96% |
| Douglas Park | 11.54% |
| George Taylor | 10.22% |
| Stuart Gibson | 9.53% |
| Julian Wolhardt | 9.53% |
| John Halsted | 9.53% |
| John Bennett | 7.11% |
Alternatively, it could be a proactive step to finance the squad investment in the summer and starting work on deals.
Unforeseen expenses, like Philippe Clement’s sacking, despite CEO Patrick Stewart’s denial of financial motives, might have strained reserves, with the loan covering severance or transition costs.
The loan may also support Ibrox’s redevelopment, a six-year plan to boost capacity to 60,000, enhancing long-term revenue but demanding upfront capital.
John Bennett is unlikely to be pleased with this Rangers development
John Bennett’s 2021 stance rejected Macquarie’s high interest rates, which were 13% then, compared to Rangers’ 6% benchmark, favoring director loans with better terms.
However, the shift suggests either those terms are no longer available, or Macquarie offered a competitive deal aligning with Rangers’ lowered borrowing costs.
Macquarie’s experience with clubs like Watford and Burnley indicates familiarity with football’s financial ecosystem, making them a viable partner.
Ultimately, Rangers likely opted for this loan to address urgent needs or seize strategic opportunities, balancing short-term pressures which might not please Bennett.