Rangers' £10m cash injection in doubt
lmfao....
Rangers' £10m cash injection in doubt
ANDREW SMITH AND MARTIN HANNAN
THE £10 million transfer kitty injection that businessman Alistair Donald had reportedly been preparing to invest in Rangers appears to be in jeopardy.
Doubts have emerged regarding the uses the money could be put to, while there is mystery over statements made by Rangers plc to the Ofex stock exchange.
On Wednesday, the day before the club’s annual general meeting, a statement from Rangers was posted on the Ofex website stating that Rangers had "recently entered into dialogue with a number of individuals" about investment.
Yesterday, however, the statement had been removed from the Ofex website, sparking speculation that Donald might be having second thoughts.
"The statement has annoyed Alistair," said a source close to the businessman, "and it was certainly premature."
In any case, the money may not have been able to boost manager Alex McLeish’s transfer funds. One investment analyst said it would be "virtually impossible" to ringfence any cash put into the club.
"The club board might think there are better ways of using the money, such as reducing the debt," said the analyst.
Donald and Rangers chairman David Murray have also expressed differing views over the prospect of the Old Firm playing in England, further adding to the doubts over the £10m investment.
Murray has also been challenged by Celtic’s head of football operations, Peter Lawwell, over his assertion that Rangers were Scotland’s market leaders in football retail.
Murray claimed that making between £5m and £7m a year from Rangers’ retail division put them ahead of Celtic, but Lawwell says the Parkhead club’s £25m, five-year deal for kit sponsorship with Nike will have other "soft benefits".
"Our Nike deal is a sponsorship deal and represents a guaranteed minimum of £5m a year," Lawwell said.
"It is the biggest deal ever done in Scotland. He [Rangers Chairman David Murray] is commenting on merchandising but we are making that over and above the £5m."
Celtic’s entire profit on merchandising is believed to be close to £9m.
http://sport.scotsman.com/index.cfm?id=1178582004
Just as Shrek thought he was getting some more cash to blow on more diddies
Ah well they will coup that back in the group stages:cartman
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Originally Posted by diablos
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