Rangers launch £16m share issue to boost first-team squad budget
Rangers have announced plans to raise £16m in new capital through a share issue to fund investment in the men’s first-team squad.
Club chairman Andrew Cavenagh confirmed the offer will be supported by his consortium and existing shareholders.
The funds are strictly earmarked to support player acquisitions and address other operational needs at Ibrox.
Total investment from the current ownership group now stands at £36m since their takeover in the summer of 2025.
Restructured executive team
Cavenagh also revealed the Scottish Premiership side will not appoint a replacement for former sporting director Kevin Thelwell.
Thelwell was removed from his post in November alongside ex-chief executive Patrick Stewart.
“We do not plan to hire a sporting director. The executive team is committed to being smaller, nimbler, and more entrepreneurial,” Cavenagh explained.
“We want an executive team willing to get its fingernails dirty. We want fewer consulting firms and less bureaucracy.”
The club hierarchy is systematically reviewing all operations to improve efficiency and divert a greater share of resources to the pitch.
Balancing inflation and fan costs
Alongside the share issue, adult season ticket prices will rise by 6.5%.
Operational costs, including player wages, agent fees, and stadium security, are currently rising faster than the overall rate of inflation.
“If we are going to ask supporters to pay more for tickets, we have an obligation to spend those funds wisely,” Cavenagh noted.
The chairman insisted this is not the time to decrease the football budget, viewing revenue growth as essential to remaining competitive.
All shareholders will receive formal documentation regarding the resolutions, with a minimum buy-in set at 1,000 shares.
Old Firm disorder condemned
Cavenagh used his open letter to reiterate the club’s firm stance on the chaotic scenes that marred the recent Old Firm derby.
Supporters entered the field of play following a penalty shootout at Ibrox, leading to widespread condemnation.
“We continue to denounce the disorder, property damage, and especially those who denigrated the 66 souls lost in the Ibrox disaster,” he stated.
The Glasgow giants have pledged full support for an independent review and will collaborate with all relevant stakeholders.
In a separate development, Rangers are attempting to convene a summit of top-flight clubs to discuss the ongoing use of video assistant referees.
