SHOCKING NEWS;Rangers FC announced sale of club and new ownership due to debts borrowed

Stuart Gibson has become the third-largest shareholder in Rangers after purchasing £1million in additional shares, Football Insider has learned.

A backdated Companies House submission on Wednesday (8 February) revealed that Rangers issued 4.2m shares at 25p each on 31 January.

Football Insider understands that 4m of the shares were bought by Gibson, with cash invested directly as opposed to a loans-to-equity arrangement.

Gibson has upped his stake from 9.25 per cent to 10.08 per cent, meaning that only Dave King and Douglas Park currently own more shares in the club than him.

It is Rangers’ first share issue since the £1.25m and £1m tranches in January and February respectively last year.

Like fellow Rangers co-owner George Taylor, Gibson is based in east Asia where he operates as co-CEO of property and investment company ESR Group.

Rangers posted their accounts for 2021-22 in November last year, revealing an operating profit of £5.9m on club-record turnover of £86.8m.

They are expected to be in the green once again in 2022-23 thanks to their participation in the Champions League.

The Glasgow giants slumped out in the group stage under then-manager Giovanni van Bronckhorst but are believed to have earned £18m from their exploits, plus additional matchday income.

Van Bronckhorst was sacked in November and replaced by Michael Beale, who is unbeaten in 12 matches at the helm.

Todd Cantwell and Nicolas Raskin were signed in January to aid Rangers’ bid to close the nine-point gap between themselves and Scottish Premiership leaders Celtic.

Despite links with his previous manager, Ruben Amorim, now at Man United, Football Insider understands that Arsenal can afford to sign Gyokeres without worrying about PSR restrictions.

However, Forest are now being included in the conversation for big-name signings due to their standing in the Premier League table, and Michael Dawson believes that the City Ground could be the Sporting CP star’s next destination this summer.