Rangers investment needs to address the fractured ownership situation at Ibrox which is currently holding the club back, agree Peter Martin and Tam McManus.
Following interim chairman John Gilligan’s news conference earlier in the day—his first public remarks since taking over for John Bennett—the two talked about the issue on PLZ Soccer (September 23), with presenter Martin adamant that a total takeover by a single corporation is the best course of action.
previous Hibs forward McManus concurred and said there was little possibility previous chair Dave King would return as a result.
Martin said (14m): “I still feel Rangers has to be taken over by one group or one person who is the leader, who calls the shots, to remove this scenario where you have four or five individuals seeking to grab the reins. If it is suggested that they are looking towards a Far East investor, then great. It, in my opinion, hinders Rangers.
“Yes, it does, and John has mentioned Dave King there who has been fairly vocal about wanting to return and get involved with Rangers again,” McManus said. I don’t believe John and the board are especially desiring that…
You’re right; it’s unclear who will make an investment; there have been rumors of investors from the Far East and other places. That will be crucial. Who will make the investments, and will the funds be allocated appropriately?
John Gilligan responds to Dave King in first Rangers comments
It is difficult to argue that, even in the event that everyone has the finest intentions in the world, the internal strife at the top of Ibrox won’t be good for the business as a whole.
Speaking to the media, Gilligan encouraged King, who is still the club’s largest stakeholder and is headquartered in South Africa, to “behave like a proper shareholder” [BBC Sport, 23 September].
Following Bennett’s departure due to health concerns, King has been extremely critical of the Gers board while promoting his intention to profit from Saudi Arabian and American interest in investing if Bennett returns for a two-year term [Rangers Review, 15 September].
It would be even more important to make sure the club was sold to the proper bidder if a full takeover was imminent since no one would be there to correct any bad mistakes.
At Ibrox, foreign investment will appear even more alluring given that Celtic’s financial lead is growing each.
However, there are enough instances of major European teams collapsing under the control of US or Asian investment firms, so caution will need to be exercised in evaluating any such bids.
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