Kyle Fox’s takeover attempt and interest in Rangers has come under serious fire after it emerged she previously worked for Duff and Phelps, and doesn’t have an obvious investment pool.
The US-based finance guru has been heavily linked with taking a major stake in Rangers after the existing board’s recent travails opened the door for potential new parties to take an active interest in a controlling investment and change of regime.
But questions have been raised over the potential cash she actually has, with some accusing her of having no funds and trying to use Rangers FC instead to make herself profit.
This is, of course, the very thing Rangers’ board took her to court over, and lost, so only Fox knows how much she actually has – of course it would be akin to a hedge fund, whereby she would accrue capital from interested investors, herself making cash as a result of this.
And in honesty, consortiums are not the worst thing ever, but they are clinical capital-based and all about end finance.
But of course, it’s in the interests of these investors that the company runs well, and productively, in order to generate an increase in share value, to get a return on their investment. However, that said, Ms Fox has not responded to Ibrox Noise’s request for comment, and her initial statement on the situation recently made no reference whatsoever to the fans of the club.
As for Duff & Phelps, that’s irrelevant – no criminality took place there, and the two administrators ended up receiving millions from the government in damages after the accusations and prosecutions against them had been revealed as malicious and invalid.
There are alarm bells from many fans, that a former Duff & Phelps employee who created a financial consultancy and investment firm is now trying to take a controlling interest in the club without any stated or proven capital behind her.
Ms Fox, if she is serious, will need to prove the paperwork and demonstrate she has serious money behind her otherwise we’re better off with Douglas Park.
But Rangers fans have not reacted with positivity to this story, which isn’t that surprising given our history under certain notorious owners and regimes.
We watch this story with interest.