CLUB 1872 have raised half of their £1million target ahead of the upcoming Ibrox share issue. 

The supporters group are the second largest shareholders in RIFC plc after purchasing 50 per cent of the stake held by Mike Ashley last year. 

The Gers board are set to hold a rights issue in the coming months to raise funds and allow soft loans to be converted to shares. 

Club 1872 members have now stumped up £500k in recent weeks and director Laura Fawkes said: "We are delighted to have reached the half way point in our campaign to raise £1m to put directly into Rangers Football Club through upcoming share issues.

"This is a significant amount of money which will help us rebuild our club and we thank the supporters who’ve helped us get to this point after only four weeks.

"That said we still have a long way to go and we would encourage the thousands of Rangers supporters who are not yet members of Club 1872 to join us and help invest millions of pounds directly into Rangers.”

Club 1872 laid out their vision for the future in an exclusive Q&A with SportTimes last month.

The organisation have written to the Light Blues board as they look to take up a seat at the Ibrox top table alongside chairman Dave King and his fellow directors.

Funds from members will be used to retain their ten per cent stake and director Euan MacFarlane said: "Rangers supporters have shown once again that they will respond to help get our club back to where it belongs. It’s not about a few of us giving a lot, it’s about all of us giving a little. We believe the minimum of £5 per month is affordable for most supporters."

"By working together, we can make our club stronger, so we are asking every Rangers supporter to get behind this campaign and be part of something that can help take Rangers back to the top of Scottish football quicker."