Rangers intend to raise £16m of new capital in a share issue to fund investment in the men’s squad, the club chairman Andrew Cavenagh has announced.
As well as revealing adult season ticket prices are going to rise by 6.5%, Cavenagh stated the share offer will be supported by his consortium and existing club shareholders, with the money used to “support player acquisitions and other club needs.”
In a letter to Rangers supporters, Cavenagh pointed out that the total now invested since his consortium took over the club in the summer of 2025 stands at £36m.
He also announced that the club will not appoint a replacement for Kevin Thelwell, the former sporting director, who was removed from office in November along with Patrick Stewart, the ex-chief executive.
“We do not plan to hire a sporting director. The executive team is committed to being smaller, nimbler, and more entrepreneurial,” Cavenagh said.
“We want an executive team willing to get its fingernails dirty. If there is a hole to be dug, we want people fighting over shovels. We want fewer consulting firms and less bureaucracy.”
All shareholders will receive a letter in relation to the share issue and the resolutions to be approved, but there will be a minimum buy-in for the share issue of 1000 shares.
“Increasing the revenue and capital is only part of the path to allocating more resources to the men’s first team,” Cavenagh added.
“If we are going to ask supporters to pay more for tickets, we have an obligation to spend those funds wisely.
“We have shrunk the size and cost of the executive team. We are systematically reviewing every part of the club, looking for ways to be more efficient, thus enabling a greater share of the resources to go to the men’s first team.
“The costs to run the club – player wages, agents’ fees, security, food and beverage – are all rising faster than the overall rate of inflation.
“We either need the club’s revenues to keep pace, or we need to decrease the money spent on the squad. We don’t believe this is the time to decrease the player and football budget; in fact, we think the opposite.”