£50M for Rangers? Probably not…

£50M for Rangers? Probably not…

One striking difference already between new chairman Douglas Park and his predecessor Dave King is the lack of sexy headlines and boasts.

As we mentioned yesterday, a heavy criticism Graeme Souness had of King was his promises about big investment which he never really delivered on.

He claimed £30M-£50M pretty much from the moment he was appointed, and while Gerrard has received £25M total and Pedro also got £11M, it must be remembered King’s Rangers barely spent a penny on transfers for over two years till the Portuguese disaster.

And Park is not trying to make big headlines, saying only that new funding is at an advanced stage – a very deliberate statement which stops us all assuming we’re getting £50M off the bat and just trusting that the man at the top is able to get the necessary capital to finance us through these difficult times.

Remember, 2012- onwards wasn’t that different – any money going in Rangers was pretty much from the heart and a guaranteed loss. Rangers weren’t making any cash, but money was still coming in via loans and limited revenue.

Nowadays that money is similarly not going to profit much, and could be the exact opposite, but Park is tasked with securing those channels of cash which can keep the club afloat, much like the similar challenge faced by most football clubs worldwide.

He of course will put in some of his own, as will other board members, but some external revenue is starting to look likely as well, and that helps.

As long as the chairman proves himself capable of getting in some numbers to tide the club over and hopefully avoid losing any jobs, we’ll know he’s the right stuff.

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