Rangers Announce £16m Investment and Season Ticket Price Hike

Andrew Cavenagh, the chairman of Rangers, has unveiled plans for a £16 million cash injection to support the club's summer transfer activities and other initiatives. The funds will be generated through a new share issue, and the club will also increase adult season ticket prices by 6.5% for the upcoming season. "Our goal is to achieve sustained success while maintaining financial stability," Cavenagh stated. "After spending 10 months at the club, our strategy for accomplishing this goal is now clearer. We must foster a winning culture and prioritize investments in the men's first team. To improve our on-field performance, we need to increase the club's overall resources and allocate as many of them as possible to the men's first team. We do not believe this is the right time to reduce the player and football budget; instead, we think the opposite is true. We are not asking our supporters to bear the entire burden. We are raising £16 million in additional capital through a new share issue, effective immediately. This capital will be used to support player acquisitions and other club needs, bringing the total capital invested in the club over the past year to £36 million." Rangers are reportedly keen to retain the services of Tottenham loanee Mikey Moore beyond the current season. The 18-year-old has impressed with six goals and two assists in the league, and his future at the club will depend on Spurs' approval of any potential deal. While head coach Danny Röhl is expected to bolster his squad in various areas during the summer, the transfer activity is unlikely to match the level of the previous year, which saw over 25 ins and outs. Cavenagh also confirmed that the club has no plans to replace former sporting director Kevin Thelwell, following the official appointment of Jim Gillespie as CEO earlier this month. Meanwhile, former Liverpool and Blackburn player Stig Inge Bjornebye, who was appointed as a football consultant and advisor in December, is set to remain at the club beyond the summer. "I want our supporters to identify with the club, whether through the team on the pitch or the staff in the offices, and I think some of that has been lacking in recent months and years," Cavenagh added. "This change begins at the top. Over the past four months, we have restructured our executive team, with Jim Gillespie joining as CEO and Fraser Thornton becoming an executive director. We believe our current football structure is effective, and we do not plan to hire a sporting director. "Our executive team is committed to being smaller, more agile, and entrepreneurial. We want a team that is willing to take action and get involved. If there is a task to be completed, we want people eager to contribute. We want fewer consulting firms and less bureaucracy. "A culture of winning means embracing Rangers' historical values and standards. I have made an effort to engage with many supporters, former players, and staff, and their input has been invaluable. Across the club, we need to continue partnering with these individuals, whether informally as thought leaders and advisors or formally as ambassadors and staff members. These connections to our past must be strengthened." Cavenagh addressed the clash between fans following the recent Scottish Cup Old Firm tie at Ibrox, reiterating the club's support for the independent review commissioned by the Scottish FA. Talks have already taken place between the club and Police Scotland to ensure the presence of away fans at the final league meeting of the season. He stated: "We condemn the disorder, property damage, and especially the disrespect shown to the 66 lives lost in the Ibrox disaster. We fully support the independent review and will collaborate with all relevant stakeholders while representing the club and our supporters." Rangers have proposed a meeting of all Scottish Premiership clubs to discuss refereeing standards, which could take place in the coming weeks. The top-flight sides are eager to work together to address the issue. While Rangers would consider paying more to fund full-time referees or provide additional cameras at non-live games, they may also withdraw their funding if the technology does not meet the required standards.