CLUB 1872 will look to boost their membership numbers to more than 20,000 after agreeing to buy Dave King's Rangers shareholding.
The former Ibrox chairman has lined up a deal that will see his 20.37 per cent stake in RIFC plc transferred to the fan organisation over the next three years.
The deal will make Club 1872 the largest shareholders at Ibrox and give supporters a defining say in the future of their club as they break through the 25 per cent threshold.
The structure of the arrangement gives Club 1872 three years to complete the purchase - with the opportunity to purchase the entire shareholding prior to December 2021 for a price of 20p per share.
Club 1872 Director Laura Fawkes said: “This is a huge moment for both Club 1872 and the Rangers support.
"We are very grateful to Dave King for his faith in Club 1872 and the Club 1872 Board and for his ongoing commitment to ensuring that the ownership structure of Rangers remains a very healthy mix of wealthy individuals and the wider supporter base.
"As Club 1872 Directors, we are very proud to present this opportunity to the Rangers support. We now need over 20,000 Rangers supporters to take up the baton, join Club 1872 and ensure that the events of 2012 can never happen again.
"It would be a seminal moment for both Rangers Football Club and the supporters if we could achieve the position of being the largest shareholder in Rangers in time for the 150th anniversary of the club in 2022.
"The rebuilding of the Club, largely overseen by the Rangers Board under Dave King’s Chairmanship, has been remarkable - from the position in 2012 to once again challenging for domestic titles and in European competition. Club 1872 can continue to assist with that process whilst ensuring that the wellbeing of the club remains at the centre of decision making in the longer term.
"We fully understand the financial pressures that supporters are under in the current economic climate, and the huge contribution they have already made to Rangers this season through season ticket sales and merchandise.
"But, if they can dig deep one more time and join Club 1872 today as legacy members, then over the next couple of years we can together ensure that the club will remain in safe hands for generations to come."
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel