THE possibility of Rangers having a second share issue has been on the cards for months.
Chief executive Graham Wallace stated in his business review that this would happen if there was a shortfall in season ticket sales.
And that has happened with the club revealing on the its website this morning it has sold 17,000 tickets – half of last season’s figure.
James and Sandy Easdale have been down in London this week speaking to institutional investors about this course of action.
But I think it was always likely that Rangers would have another share issue – whether fans
renewed season tickets or not.
The club is apparently hoping to generate £8million of income before August, but I would like to think that more money will be coming into Ibrox from other sources in the near future as well.
The big question for me now is this: What has happened to Dave King? The South Africa-based businessman has said that he is prepared to put tens of millions of pounds into Rangers. I’d like to know what his plans are.
Sure, he has said that he does not want his money to go into the pockets of existing shareholders.
He wants to ensure that his money goes straight to the club and is not interested in buying a stake from current investors. That is fair enough.
But how does he intend to get involved from this point on?
I think the majority of Rangers supporters would like to be told what his intentions are at this point.