Rangers fans consider mass ownership

Several Rangers supporters groups have united to urge fans to explore a mass ownership scheme for the club.

The four groups today appealed to "fans around the world to consider playing their part in changing the ownership of the club".

The Rangers Supporters Assembly, Rangers Worldwide Alliance, Rangers Supporters' Trust and Rangers Supporters Association also invited potential large-scale investors to discuss their interest.

The fans representatives have been looking into ways of helping the club's financial plight since it emerged that Lloyds Banking Group had placed a representative on the board.

The joint statement was released on the day before Rangers announce their annual figures, with the debt expected to be confirmed as about £30million.

Majority shareholder Sir David Murray has put his stake in the club up for sale and the supporters groups are eyeing a rare opportunity to influence the running of the club.

The statement read: "The organisations are considering the options open to fans to invest in the club on a massive scale and on an accountable basis.

"We are considering various options for this - whether on our own or in partnership with others.

"We intend that the future of the club will never again be reliant on the goodwill of a bank or any individual.

"One option we are currently discussing with advisors is the changes necessary to turn the trust's Gersave scheme into a suitable vehicle for the gathering in of funds.

"However, any form of investment will only take place on the basis of the suitability of the terms gained in negotiations.

"Rangers as a club cannot continue in the current state of limbo with the threat of being run by the Lloyds Banking Group.

"To move things on before the January transfer window we are formally inviting any potential credible investors to discuss their plans for the club with us.

"Rangers fans are by far the biggest financial investors in the club.

"We are determined that the club will continue to flourish and never again will it run the risk of falling into the hands of a bank.

"We call on fans to be patient but to unite behind sensible proposals we hope to recommend to them over the coming months."

The Rangers Supporters' Trust have arranged for representatives from Hamburg and Espanyol to give presentations on both clubs' members-run models at the annual GersPride conference at Ibrox on Saturday.

Sourced from: The Belfast Telegraph