Property tycoon poised for £20m injection into Rangers
Ibrox could see regime change
Property funder Stuart Gibson is on the verge of investing millions into Rangers and becoming the most influential figure in the Ibrox boardroom.
The Japan-based businessman flew in to Glasgow to meet the board amid speculation that he is close to completing a deal which will bring forward Dave King’s relinquishing of the chairmanship.
The Daily Record reports that Paisley-born Mr Gibson, who made his fortune in the Far East since moving there in 1999, is set to bankroll the club as part of a £20m investment which will secure Rangers finances in the short to medium term.
He will then go a stage further by buying up Mr King’s shareholding.
Mr Gibson set up real estate company ESR, a Hong Kong-based property development company, which is said to have more than £1.5 billion worth of assets under management.
It’s understood the life-long Rangers supporter was initially attracted to the idea of investing in the club around six months ago after discussions with current director George Taylor, a senior investment banker with Morgan Stanley, based in Hong Kong.
Mr Gibson has secretly attended a number of games during that time including a Betfred Cup semi final win over Hearts in November and the defeat to Celtic in December’s final.
He had planned to be at Ibrox for Sunday’s Old Firm derby before it was postponed due to the coronavirus pandemic.
In the last month he launched a £200m plan to build the largest goods distribution centre in Nagoya, Japan’s fourth largest city.
In March last year, ESR acquired a parcel of land on Japan’s Tokyo Bay for the development of a $1 billion warehouse.