Rangers close to loan
Rangers have confirmed they are close to securing a potential £1.5million loan from two of their investors, the club have announced to the Stock Exchange.
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Reports on Thursday morning claimed the cash-strapped Ibrox outfit were in talks with Sandy and James Easdale as well as Laxey Partners about an investment deal.
The "crisis loan" - which would not have to be repaid, with the Easdales and Laxey Partners instead receiving extra shares sometime next year - would help bridge a funding shortfall expected to cripple the club before season-ticket renewals start arriving at the end of the season.
In a statement, the club said: "The Board of Rangers notes the press articles (on Thursday) morning and confirms that it is holding discussions with two major shareholders with a view to arranging a loan of up to £1.5million to provide working capital for the Company.
"Documentation and terms have not been finalised, and a further announcement will be made when appropriate."
Sandy Easdale is chairman of the club's football board, while James sits as a PLC board director.
Rangers raised £22million when they floated on the Stock Market in December 2012.
However, by June, they had burned through most of that as they announced losses of £14.4million for the previous 13 months.
And there has been speculation about the on-going health of the club's books since former financial director Brian Stockbridge claimed the League One leaders would be down to their last £1million by April.
Those fears grew worse last month when chief executive Graham Wallace attempted unsuccessfully to persuade Ally McCoist's squad to take a 15 per cent pay cut.