Rangers have announced season ticket sales of approximately 17,000 which they say “reduces the potential requirement for short-term financing”.
Supporters of the club have been encouraged by the Union of Fans coalition to withhold season ticket money in protest at the board, who would clearly have liked to at least match the club’s total season ticket sales figure from last season of 34,000.
In April chief executive Graham Wallace published a 120-day review of Rangers’ finances in which he identified the need to raise £30 million over the next three years and said that the club had “mismanaged almost all of their cash reserves” since their re-emergence from liquidation.
The club said in a statement published on their official website on Friday: “The board of Rangers can confirm that approximately 17,000 season tickets have been renewed to date for the club’s forthcoming SPFL Championship season.
“This level of renewals reduces the potential requirement for short-term financing as highlighted in the Business Review Summary published on April 25 2014 particularly given the updated season ticket pricing structure for the 2014-15 campaign.
“Applications for new season ticket purchases opened on Monday and sales of season tickets are continuing. The club very much looks forward to welcoming more supporters back to Ibrox for what promises to be an exciting league competition.
“The board believes that whilst this level of support reduces the potential requirement for short-term financing the board also notes the strategic objectives that it identified in the Business Review Summary published on April 25, 2014 and the related funding requirements. The board continues to evaluate its plans in this regard and will update the market in due course.”
Wallace continues to insist the club are not in danger of going into administration, and they have completed the close-season signings of Darren McGregor and Kenny Miller.