RANGERS Chairman Andrew Cavenagh has shared the following update with supporters.<\/p>\n
Dear supporter, <\/p>\n
The international break provides an opportune time to share an update on the broader direction of our beloved club. <\/p>\n
Our ambitions are clear \u2013 sustained winning and winning sustainably. Having now spent ten months in the club, our views on how to accomplish our ambitions are much clearer. We need to create a culture of winning, and we need to continue to prioritise and invest in the men\u2019s first team. <\/p>\n
Culture<\/p>\n
Rangers\u2019 supporters are direct, hardworking, passionate, and emotional. I want our supporters to see themselves in the club, whether on the pitch or in the club offices, and I think some of that has been missing over the last months and years. <\/p>\n
This starts at the top. Over the last four months, we have reconstituted our executive team. Jim has joined as CEO and Fraser has become an Executive Director. We believe our current football structure is working well, and we do not plan to hire a sporting director. The executive team is committed to being smaller, nimbler, and more entrepreneurial. 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. <\/p>\n
A culture of winning means returning to Rangers\u2019 historical DNA and standards. I have tried to spend time with many supporters and former players and staff, and their input has been invaluable. Across the club, we need to continue to partner with these individuals, whether informally as thought leaders and advisors or formally as ambassadors and parts of our staff. These links to the past must be strengthened. <\/p>\n
Financial Resources<\/p>\n
In football, the level of resources committed to the squad is directly linked to the quality on the pitch. If we want to continue to improve on the pitch, we need to increase the total amount of resources of the club while also shifting as many of those resources to the men\u2019s first team as possible. <\/p>\n
We are raising season ticket prices by 6.5% (except juvenile tickets, which will be kept at the same price). We do not take ticket prices and increases for granted. We recognise the exceptional commitment supporters make to the club in the form of ticket purchases. The costs to run the club – player wages, agents\u2019 fees, security, food and beverage – are all rising faster than the overall rate of inflation. We either need the club\u2019s revenues to keep pace, or we need to decrease the money spent on the squad. We don\u2019t believe this is the time to decrease the player and football budget; in fact, we think the opposite. <\/p>\n
We are not asking supporters to do all the heavy lifting. We are raising \u00a316m of additional capital through a new share issue, effective immediately. The capital will be used to support player acquisitions and other club needs. This increases the total capital invested in the club to \u00a336m in the last year. <\/p>\n
Increasing the revenue and capital is only part of the path to allocating more resources to the men\u2019s first team. If we are going to ask supporters to pay more for tickets, we have an obligation to spend those funds wisely. We have the 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\u2019s first team. <\/p>\n
Old Firm<\/p>\n
The club has already issued a statement regarding the recent Old Firm match, and I don\u2019t want to repeat that statement here, but I also didn\u2019t want to ignore such an important subject. We continue to denounce the disorder, property damage, and especially those who denigrated the 66 souls lost in the Ibrox disaster. We fully support the independent review and will work with all relevant stakeholders, while continuing to represent the club and our supporters. <\/p>\n
Women\u2019s Team<\/p>\n
Our women\u2019s team is currently five points off the top and has a cup final against Glasgow City this weekend. The women\u2019s team has enjoyed multiple sporting successes over the last several years and we continue to believe that the team has tremendous operational and financial upside. We are exploring ways to best unlock that potential and wish Leanne and the squad the best for the final and the weeks and months ahead. <\/p>\n
Run In<\/p>\n
We are three points off the lead, with seven matches to play. We have complete confidence in Danny, his staff, and our squad. We will approach each match as it comes, and fingers crossed, we will be at the top of the table after 38 matches. <\/p>\n
We are in this together \u2013 whether creating the club\u2019s culture, providing financial support, or cheering on the squad. These are exciting times and I\u2019m confident that we are, step by step, getting Rangers back to where we should be and need to be. I\u2019m honoured to be doing this alongside each and every one of you.<\/p>\n
Regards,<\/p>\n
Andrew <\/p>\n