Rangers are attracting takeover interest from American investors, according to City A.M.
The news outlet published online (27 August) that the club are valued at around £150million. It is thought that several existing shareholders at Ibrox would be interested in selling their shares.
Former chairman Dave King is the club’s biggest shareholder with 14 per cent of the Gers’ shares. Sources close to potential bidders have suggested that 25 per cent of shares would be “immediately available” at the right price.
Dave King has responded to the story via Rangers Review (27 August), saying there’s no truth in it.
Rangers set for big-money takeover at Ibrox?
This will come as a confusing update for supporters at Ibrox. While there might be some excitement over potential new investors at the club, King has moved quickly to squash the rumours.
However, both stories should be taken with a pinch of salt. With the kind of money at play here, King’s public stance and private stance might be two very different things.
As a result, there is a chance that the former chairman is choosing to play his cards close to his chest.
If King was to come out and publically admit that he is looking to sell his shares, that would reduce his bargaining power.
Therefore, it is wise to insist that a multi-million takeover at Ibrox isn’t close. Either way, Rangers supporters will be keeping a close eye on this situation.
As they often say, there is no smoke without fire. Therefore, it will be interesting to see how this story develops.
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