The Rangers Supporters Trust (RST) has secured more than £500,000 funding for their legal fight to prevent Ibrox Stadium being used as security in order to secure more finance for the Championship club.
The money was donated by the Rangers Fans Fighting Fund (RFFF), set up when Rangers Football Club plc entered administration in 2012. The Rangers board recently agreed to advance notices of security being lodged in the name of Sports Direct for training ground Murray Park and Ibrox. The club are in need of immediate funding, with the club currently unable to pay this month’s wage bill.
Newcastle United and Sports Direct owner, Mike Ashley has offered a loan of £10m, but wishes to use Ibrox Stadium and Murray Park as security for the investment. Ashley currently holds just under 9% of the shares at Rangers, with the club struggling for stability as they work towards re-establishing themselves as a Premiership team.
“The Rangers Supporters Trust is delighted to announce that the Rangers Fans Fighting Fund has thrown its considerable finances and influence behind the RST’s continuing fight to ensure Ibrox remains under the control of the club,” said the RST in a statement.
“There is now a substantial legal fund available, should it be required, to fight any attempt by this board to pass security over Ibrox to Mike Ashley. We will work closely with the RFFF going forward to ensure every avenue is explored.
The RFFF said in a statement: “Mr Ashley already has security over Edmiston House and the Albion Car Park and the RFFF, like almost all Rangers supporters, feels securitising our historic stadium and training ground is a step too far.”