Bennett Looks Ahead To Growth Phase

JOHN BENNETT has been looking ahead to a ‘growth phase’ for Rangers as the club nears its 150th anniversary in 2022.

The Ibrox Deputy Chairman has been addressing shareholders at this morning’s virtual AGM, and he has been discussing what he believes is approaching the conclusion of the ‘recovery phase’ – a period which began when the current leaders at the club gained power in March 2015.

Mr Bennett revealed the ‘growth phase’ will feature many exciting initiatives for the club and its supporters – and some will kick-off before that new ‘growth phase’ begins in earnest.

He explained: "The growth phase has a number of projects, and we are not going to wait until then to commence those projects, not at all.

"There are two in particular - one is Edmiston House and the museum, and we are well-developed with the plans for that and we will start to see that take shape.

"I am very excited about that and I think the opportunity to invite our fans to help us develop that project - I can't wait to offer that.

"Project number two, there is an opportunity to do something at the stadium including capacity expansion.

"Again, there is excitement here at inviting our fans to help us deliver those projects. Those are our growth projects and they are projects that we want them to be visible as we approach 150 - certainly project one.

"There are an awful lot of numbers get bandied about at an AGM -some of them boring and some less boring.

"Two numbers that are very, very important to me and all my colleagues on the board, and I think to everyone associated with Rangers, 55 and 150.

"When we celebrate 150, we will celebrate well, and we would like to think along the lines of those projects to help us celebrate."

Mr Bennett refers to the Rangers support as the ‘lifeblood’ – and he is determined they will have a crucial role in securing the long-term future of the club.

He continued: "The lifeblood kept coursing through the veins of the club and they saved the club. I think what we can look forward to now, if we are right that we are going to move into this growth phase, the numbers that are important - 55 and 150 - but what is really important, and this is where we will be asking the fans and inviting the fans to join us in so many ways is to future-proof this club for the next 150.

"That is really important to the board - you talk to Douglas and all the boardroom colleagues, it is really important given what this club has gone through that we do everything we can to future-proof this for the next 150.

"Then I think we have done our job."

One particularly pleasing change at Rangers in the eyes of the Deputy Chairman in recent times is how closely so many departments now work all towards a common goal.

He sees that in action every single day and he explained: "You walk through the club. If you talk to Amy [McDonald] in women's football, if you talk to Connal [Cochrane] at the charity, you talk to Craig [Mulholland] in the Academy and you talk to Ross Wilson, Stewart [Robertson] and the Manager, that is when it hits you about alignment.

"You can talk about words - but you see it lived and breathed - and that is what you see now at Rangers.

"Everybody is facing in the same direction, totally aligned - shareholders and everybody else I have just talked about.

"Every stakeholder, everyone is facing in the one direction. Ross talks about a 'one club' ethos - it is not just some sort of phrase, you see it living and breathing when you talk to everyone in the club."

Mr Bennett then went on to address some recent discussion about fan ownership at the club. He said: "There has been a lot of talk about fan ownership at Rangers, and I can give my perspective.

"When you look around that board table - it's fan ownership. When you think of the other investors - that can be Stuart Gibson and others in Asia, it could be George Letham here in Scotland.

"It could be George Taylor and many other investors - loyal fans, loyal shareholders - the very embodiment of fan ownership.

"Someone said to be the other day in Poland that they had done a bit of analysis, and reckoned 95 per-cent of this club was owned by fans.

"I don't think we needed that, but sometimes if you think that and just take it as a given, maybe you forget it.

"There is obviously also quite a lot of talk about fan ownership and investment etc., and clearly, and everyone can see the funding gap that is there in the annual report, clearly, there will be more capital raising coming.

"I have been asked the question about Club 1872 participating in that, and it that what we would like - of course that is what we would like.

"Club 1872 in 2020 were offered participation at different times in the equity issues and they didn't take up those offers.

"But I would like to think that they can take up those offers and the very firm commitment that we have made to Club 1872 to come and join us and put direct investment into the club.

"We have made that commitment at a set price for the first half of 2021, and as far as I am concerned, they have as much as they can raise if they would like to take up that offer.”

The Deputy Chairman also outlined the level of investment he and his boardroom colleagues have afforded the club, adding: "Since March 2015, the current group of investors have invested around £65million and rising.

"In recent days and weeks, the chairman, Julian Wolhardt, myself and Alistair [Johnston] have all invested further.

"We have recently been joined by, I am happy to say, three successful Scottish businessmen.

"It is a broad and broadening church. But if you look at that group of investors and what they have committed and continue to commit, it is very, very sizable."