FANS’ organisation Rangers First are planning to offer the Ibrox club a £500,000 interest-free loan – if the group’s 13,000 members approve the scheme.
They have been asked to vote on the idea by Sunday, and 75 per cent must vote for the unsecured loan to go ahead.
Rangers International Football Club, the company that own Rangers, said last night that they are not seeking further loans for now but that the offer would be considered as part of potential future fundraising.
A statement on the Rangers website also said claims by Rangers First that chairman Dave King had offered to match their loan were untrue.
Rangers First was set up with the eventual aim of taking the club into fan ownership through the creation of a community interest company.
The group’s board said they hoped the unsecured loan would be converted into shares once RIFC regained their stock market listing. There is no guarantee that will happen , though, after attempts to change shareholding rules did not gain sufficient support at the club AGM.
Rangers said in November they would need £2.5 million to see them through to the end of the season, with “further funding” also needed next term.
Rangers First are the eighth-largest shareholder in the club, owning a 3.52 per cent stake.
In a letter to members, they said: “We believe you, as our members, want to help to drive the push for promotion and get our team and club back to where we belong.”
The group claimed the loan would would be made available on the same terms as others for the same amount pledged by King and by the so-called Three Bears, Rangers investors Douglas Park, George Letham and George Taylor.
The RIFC statement said: “Rangers remain committed to forging even closer links with supporters and the club are working on a new initiative to make this possible.
"It is hoped all of the club’s fan groups, including Rangers First, will participate fully in acquiring a larger stakeholding in the company and this initiative by Rangers First could be incorporated into such a proposal.
“It should also be understood Rangers First were not approached by the club for funding and, despite what has been incorrectly reported, had no discussion with the chairman that their funding, if accepted, would be matched by Mr King.”
Meanwhile, Rangers have won an appeal over midfielder Andy Halliday’s red card in the December 28 match against Hibernian, which has been reduced to a yellow.
Halliday was sent off for violent conduct after barging into Fraser Fyvie who was later banned for two games for simulation. He reacted as if Halliday had headbutted him when contact was chest to chest.
After an SFA disciplinary panel hearing, Rangers said: “The red card shown has been reduced to a yellow for adopting a threatening and/or aggressive attitude.”
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