The new owners of Rangers have declined to say where their £20 million investment is going to be spent.
The initial investment, following the US consortium involving 49ers Enterprises buying a 51 per cent stake in the Glasgow club, was approved by shareholders at an EGM.
New Rangers chairman Andrew Cavenagh insisted the level of cash being put up was the “right amount” and while fans will be keen to see it spent on bolstering the first-team squad with the aim of challenging Celtic’s recent dominance of Scottish football, the health insurance billionaire was keeping his cards close to his chest.
“£20m is the amount of primary capital that we are putting in,” said Cavenagh. “We have been careful not to say we won’t put more in, and not to say we will put more in.
“When we think about the amount of capital that is needed, we look at it through three lenses. The first is, what impact will it have? We’re not being specific about where the £20m is going, but we think £20m is the right amount this summer.
“The other two lenses that we look through are PSR (profit and sustainability rules) and making sure we are running the club in a sustainable way.
“We are not looking for what I think of as the sugar high – come in spend some money, sign some players and try to win something and then you have the sugar crash that comes from that.”
Regarding the summer transfer window, Cavenagh admitted every player will have a price.
“This is an area where we will be really opaque,” he said. “The window isn’t something that just one thing that opens and closes the way it sounds like. There are lots of different concurrent things happening over the summer.
“The only thing I would say is that the club is in a different position this year, where we can be patient from a financial perspective. When there is the right opportunity, we will jump at it, and where it is right to be slow, we will be slow.
“The world of football is one where you acquire players and they move on for bigger fees. That is part of the financial model for any club. At any club that is not one of the top five in the world, players are not permanent, and players will at times move on, and clubs will make a fee for them, and it is good for the club and good for the players.”
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