Rangers chairman Andrew Cavenagh has revealed an ambitious plan to raise £16 million through a new share issue, aimed at bolstering player acquisitions and addressing various club needs. This financial move is part of a broader strategy to support the Ibrox club's aspirations for success on the pitch. Alongside this initiative, Cavenagh confirmed an increase in adult season ticket prices for the upcoming season by six-and-a-half percent. The chairman emphasized the importance of fostering a winning culture at the club, stating that after ten months of leadership, the pathway to achieving these goals is becoming clearer.
Commitment to Player Investment and Squad Development
Cavenagh articulated the club's commitment to enhancing its resources, particularly for the men's first team. "To continue improving on the pitch, we must increase our overall resources while directing as much of it as possible toward the men's squad," he explained. He maintained that now is not the time to cut back on player budgets but rather to invest more. The chairman assured supporters that they are not solely responsible for this financial undertaking. "We are raising £16 million in additional capital immediately, which will help secure player acquisitions and meet other essential club requirements," he added. This capital injection raises the total funds invested in the club to an impressive £36 million over the past year.
In addition to funding and player development, Cavenagh disclosed that Rangers are keen on retaining Tottenham Hotspur loanee Mikey Moore beyond the summer. The 18-year-old forward has had a strong season, recording six goals and two assists, and expressed his desire to stay if it aligns with his future plans. However, any permanent deal depends on approval from Spurs. As head coach Danny Röhl looks to enhance the squad, the anticipated business this summer may not mirror the extensive activity seen last year, which involved over 25 player transactions.
Future of Club Leadership and Away Fan Attendance
Regarding the club's leadership structure, Cavenagh confirmed that there are currently no plans to fill the role of former sporting director Kevin Thelwell. Instead, Jim Gillespie has recently taken over as CEO, and Stig Inge Bjornebye, a former player, will continue in his role as a football consultant past this summer. Cavenagh expressed a desire to create an executive team that is smaller, more agile, and prepared to engage directly with the challenges at hand. "We want an executive team willing to get its fingernails dirty," he stated, indicating a shift away from bureaucracy and toward a more hands-on approach.
Amid discussions about club operations, Cavenagh also addressed concerns about fan conduct following clashes during the recent Scottish Cup Old Firm match. He reiterated the club's commitment to supporting an independent review initiated by the Scottish FA and mentioned ongoing discussions with Police Scotland. The goal is to ensure that away fans can attend future matches, emphasizing the club's dedication to creating a safe and welcoming environment for all supporters.
Addressing VAR and Refereeing Standards
In light of ongoing issues related to refereeing standards, Rangers have proposed a meeting among all clubs in the Scottish Premiership to discuss VAR and improve officiating. Cavenagh indicated that this meeting could occur in the coming weeks, as top-flight clubs are eager to collaborate on addressing these pressing concerns. Additionally, Rangers are open to discussing potential financial contributions to enhance the quality of officiating, including funding for full-time referees or adding more cameras at non-live games. However, should the technology fail to meet their expectations, the club has indicated they might consider withdrawing their financial support.
Overall, Cavenagh’s statements reflect a proactive approach to ensuring Rangers not only strengthens its team but also fosters a supportive community and enhances the overall football experience for fans.
