LONDON (Alliance News) - Rangers International Football Club PLC Friday said it has appointed Philip Nash as a director of the company with immediate effect to initially assist with its business review.
Nash was a previously a senior executive at Arsenal FC from 2001 to 2008 and then joined Liverpool FC as chief financial officer, serving as a board director for three of his five years at the club.
Rangers FC has been troubled in recent years, going in administration in 2012 and falling into the third tier of the Scottish Professional Football League.
Last month, Rangers said its need for short-term financing had been reduced after it received 17,000 renewals of season tickets ahead of the next football season, even though it had raised ticket prices.
The Scottish football club had said in April that it was looking to raise GBP20 million to GBP30 million to cover its three-year plan, but that it would need new shareholder approval to raise that level of cash by issuing equity. It currently only has authority to issue 43.4 million shares, which at its current share price would only raise GBP13.9 million, but had said in April that it may use this if season ticket sales fell too far below hopes.
Rangers Friday said Nash will assist with the business review and will subsequently move on to financial and operational matters.
Rangers shares closed up 3.1% at 31.96 pence Friday.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
