Rangers intend to raise £16m of new capital through a share issue to support investment in the first-team squad, according to club chairman Andrew Cavenagh. The Glasgow club confirmed the plans during a statement on Wednesday. Cavenagh stated that the move aims to provide manager Philippe Clement with additional resources for the upcoming transfer windows.
The investment follows recent financial reports indicating the club requires further funding to maintain competitiveness in the Scottish Premiership and European competition. Per Sky Sports, the share issue is part of a wider strategic plan to ensure long-term financial stability at Ibrox. Existing shareholders will have the opportunity to participate in the capital raise.
Rangers currently sit second in the Scottish Premiership table, trailing leaders Celtic by five points with seven matches remaining in the season. The club also continues its participation in the Scottish Cup, having reached the semi-final stage. Cavenagh noted that the additional funds are essential for the club's ambitions to secure domestic silverware and progress in continental tournaments, per STV News.
