Derek Johnstone: Blind faith won't be enough for Rangers fans, club need to show them the money

RANGERS chief executive Graham Wallace is, as we all know, currently carrying out a 120-day "restructuring project" at the Ibrox club.

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Dave King has been linked several times with investing money in the Ibrox club
Dave King has been linked several times with investing money in the Ibrox club

When he completes it, the likelihood is that cutbacks will have to be made. The club is currently operating at a loss and existing funds are dwindling.

But if he reduces outgoings then how does the club go forward without significant additional investment?

For me, there has to be fresh funding.

It has been suggested by some that this £1.5m loan from the Easdale brothers and Laxey Partners will help tide the club over until supporters renew season tickets.

But I am not so sure that Rangers can rely on their followers simply backing them with blind loyalty without them seeing something in return.

Fans will want assurances about the financial state of the club at present and about where their money will go before they commit to buying their season tickets once again.

The club cannot move up to the SPFL Championship next season - a full-time league - with the same players as they have this year.

I am not talking about them going out and buying anybody for huge sums of money. But they can strengthen once again with free transfers.

The fans need to know if their hard-earned cash will just go towards helping the club get through the season or will go into the squad.

I am genuinely convinced that those involved at Rangers at the moment are working away for the good of the club.

But supporters are entitled to ask questions about the future, and whether investment will be coming in.

We are hearing reports Dave King, the South Africa-based businessman and former director, has had his offer to invest rejected by the club.

I am led to believe that, because the way the club is set up at the moment, Rangers would be unable to accept any investment from him.

But that may well change in the future if, as is looking increasingly likely, there is a second share offering. As I say, I think there has to be fresh investment.

But the vast majority of Rangers fans - and I include myself in this number - do not understand or have any interest in the financial side of the club.

They just want progress on the park and off it. They do not care about the personalities involved as long as the club flourishes.

But I think it would help supporters work together with the club if it was explained why an investment from King was turned down if, indeed, it actually was.


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