Source: Team_Talk
Tycoon plans fan buyout for Gers
Graham Duffy, a property developer who is based in Florida, is reported to be planning a fans' buyout of the Ibrox club.[LNB]It comes after the club's latest annual financial report showed debts have soared to £31.1 million.[LNB]Duffy, 42, said the club's debts were "significant but not insurmountable".[LNB]He is reported to have put together a business proposal with a members club ownership scheme at the heart of the plan, and also to have held talks with a number of businessmen aimed at taking this forward.[LNB]If the plan is successful they could form a consortium to lead the club forward and then implement the fan membership scheme.[LNB]Several successful European clubs - including Barcelona, Porto and Hamburg - are already run in this way.[LNB]And it was reported Duffy's scheme would aim to recruit 15,000 members every year for three years, with the business model based on a members' club of 45,000.[LNB]Supporters would pay £1,000 as a one-off joining fee, raising £45million.[LNB]Duffy told the Evening Times: "I don't believe it is in the interest of Rangers to be dependent on one person any more.[LNB]"Times have changed and, should the club be run properly, and given time for this plan to be implemented with the fans uniting behind it, then Rangers would be a stable, successful club, not just domestically but internationally, with sufficient funding to go forward and be innovative."[LNB]He said the majority of fans backed the idea of the club being owned by supporters - either wholly or partially - but added this was a "major task" which could only be achieved over a period of time and "in line with a solid business model".[LNB]Duffy added: "It hurts me, like any other Rangers fan, to see the club in the state it's in, which has and is most certainly impacting on the management team and players.[LNB]"But there are people willing to do something about it and if the fans come on board it can happen."[LNB]Rangers' majority shareholder Sir David Murray has said he is willing to sell the Ibrox club.[LNB]Speculation has abounded in recent months with regards potential investors but, asked if there had been any expressions of interest, Murray told The Scotsman: "No - none," adding that there was "no substance" to such talk.[LNB][LNB]
