sport news Rangers seek new investment to fund Steven Gerrard transfer kitty

Rangers are in talks with potential investors over plans to raise cash for a Steven Gerrard transfer fund.

The Ibrox club will continue negotiations with their No 1 target for the manager's post on Thursday. Gerrard wants former Scotland captain Gary McAllister as his No 2 and admitted on Tuesday that he has already held 'positive talks' with the Rangers hierarchy.

The Liverpool and England icon is, however, reported to be seeking assurances over transfer cash before accepting the job.

Rangers are in talks with investors over plans to raise cash for a Steven Gerrard transfer fund

Rangers are in talks with investors over plans to raise cash for a Steven Gerrard transfer fund

Sportsmail understands chairman Dave King has already held discussions with external parties willing to put money into the club, via a rights issue geared to converting existing shareholder loans to equity and raising working capital.

Plans to raise funds have been delayed by King's court battle with the Takeover Panel, who have compelled him to make a mandatory offer for shares in the club.

The financial regulator have been granted two interdicts ordering the Rangers chairman to both make an offer and to provide third-party proof he has the funds to comply.

Found by the Court of Session to have acted in concert with three other shareholders in the boardroom, the South African-based businessman had until last Thursday to contact other shareholders with an offer to buy up the remaining two-thirds of the club's equity at 20p per share, but failed to prove

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