Club 1872 Legacy
What is a Club 1872 legacy donation? +
A Club 1872 legacy donation is a £500 donation to Club 1872 Shares CIC, which will initially be used to purchase the 66 million shares currently held by New Oasis Asset Ltd on behalf of Dave King. The donation can be made in one payment, over 10 months or over 25 months. At current share levels this will make Club 1872 the largest single shareholder in RIFC.
In recognition of each legacy donation, legacy members will receive a certificate detailing their contribution and a lifetime vote on all the shares held by Club 1872.
Why is Dave King selling his shares to Club 1872? +
Since becoming Rangers Chairman in 2014, Dave King consistently made his view clear, that Rangers supporters should never again find themselves in a position where they had no say in the future of the club; where they were powerless to stop individuals failing in their duty of care to our football club. The only way for supporters to retain a say is through a shareholding in the club. There is no substitute for that.
Club 1872 Directors have built a strong relationship with Dave King over the intervening years, to the point where he is now ready to entrust his entire shareholding to the organisation. This is a huge vote of confidence in the organisation and the Rangers support as a whole. It is an opportunity we cannot afford to miss.
What are my options on how to make a legacy donation? +
You can make a legacy donation in a one-off donation, over 10 months or over 25 months. There is also a choice of card payments or direct debit. Once the legacy donation is complete, donations will revert to a standard £10 per month but this can be altered at any time without effecting your status as a legacy member with a lifetime vote on all Club 1872 matters and all votes of the shares Club 1872 holds in Rangers International Football Club Plc.
What does legacy membership of Club 1872 mean? +
Everyone who makes a legacy donation to Club 1872 will become a legacy member of the organisation. Under the Articles of Club 1872 Shares CIC, this will grant you lifetime ‘contributor’ status. This means you will have a lifetime vote on all key decisions of Club 1872. This includes electing Club 1872 directors, changing the rules of the organisation and, perhaps most importantly, voting on the shares held by Club 1872 in Rangers International Football Club Plc. This will give you a lifetime say in the most important decisions made about Rangers.
Can I take out a legacy membership for family members? +
Yes, and we would encourage you do to so. Each member simply needs a unique email address, so you can set up an email or use an existing email address for any family member you would like to set up a membership for. One person can make multiple donations for multiple family members as long as each family member is set as a Club 1872 member with a unique email. If you have any questions about this please contact email@example.com.
Once I make my legacy donation do I have to keep donating? +
No, but we hope you will. After your £500 legacy donation is completed, your donation will revert to £10 per month, although this can be stopped, altered or increased at any time. It is our hope that most Club 1872 legacy contributors will continue a regular monthly donation to enable to Club 1872 to reach our 25% target as quickly as possible.
Club 1872 Shareholding
Why is it important for the Rangers support to have a meaningful shareholding in RIFC? +
We only need to look back at the events of 2012 to see the answer to this. If the supporters had controlled a 25% shareholding in those days then the damage done to the club would never have happened. We cannot rely on individuals to always act in the best interests of the club. Whilst supporters may be entirely content with the current board and investors, things change. The only constant at Rangers is the Rangers support, and putting the power to approve major decisions in their hands is the most important contribution that any Rangers supporter can make to our football club.
Why is a 25% shareholding important? +
Holding a 25% shareholding will give Club 1872 members an effective veto over any major decisions about Rangers International Football Club Plc without needing the support of any other shareholders. This will put the Rangers support in a position to ensure that the events of 2012 can never be repeated. It will also provide a platform for the supporters to make further major contributions to the club via future share issues and give supporters a dedicated representative on the RIFC board.
What happens once we reach a 25% shareholding in RIFC? +
The simple answer to this is that it will be up to Club 1872 members. The long term aim for Club 1872 has always been the level of control that a 25% shareholding offers to the support. This will ensure that no major decisions can be taken about the future of Rangers without the consent of Club 1872. Once that target is reached, members can decide to either maintain the shareholding at that level or seek to increase it.
How do I cast my vote on the Club 1872 shareholding? +
Each time there is a General Meeting or Annual General Meeting of Rangers International Football Club Plc, Club 1872 contributors are polled on the exact resolutions for that meeting. The results of those votes are collated and announced to members and the shares are then voted at that RIFC meeting by the Club 1872 Directors. It is the Club 1872 contributors who choose how to vote, not the Club 1872 Directors.
How will Club 1872 work with Rangers as a major shareholder? +
It is enshrined in the Articles of Club 1872 that the organisation will always work of for the benefit of Rangers Football Club and the community of Rangers supporters. Club 1872 will at all times seek to work constructively with Rangers, even when it is necessary to challenge or question decisions. Club 1872 will develop and grow the formal relationship between the supporters and the club - seeking to strengthen the bond that already exists in a way which gives supporters a meaningful say in the major decisions about the club.
Dave King commented on the working relationship with Club 1872 at the launch of our Legacy Campaign “Through my engagement with Club 1872 and its present board members (who are all dedicated volunteers) I have developed great trust in the individuals and the organisation. I have personally witnessed the strong benefit to the Club of having a collective voice for supporters at the shareholder level. It has been beneficial to have in Club 1872 a supporter group that is willing to challenge the Club when it feels necessary to do so and is also willing to support the Board when key resolutions that protect the Club need to be passed. Club 1872 did that extremely well during my period as Chairman to the extent that I have absolute confidence that Club 1872 is the right vehicle for me to work with to advance supporter shareholder ownership - both now and in the future.”
What happens to the shares purchased by Club 1872? +
Contributors’ donations are used to purchase shares that are held by Club 1872 in an asset locked Community Interest Company (Club 1872 Shares Community Interest Company). This is a regulated entity and ensures the shares will be retained as a block for this and future generations.
Your legacy donation will be marked with a legacy certificate noting your contribution and you will have lifetime voting rights on the entire shareholding that Club 1872 holds in Rangers International Football Club Plc. Under the Club 1872 Articles of Association, contributors always decide how the shares held in Rangers International Football Club Plc will be voted. It is enshrined in the Articles that it is always the Club 1872 membership who decide how the shares are voted and not the Club 1872 board. This can only be changed if 75% of Club 1872 contributors agree. The Club 1872 membership also control all key decisions of Club 1872. This includes, but is not limited to, voting for the Club 1872 Board and making any changes to the Articles. Changes to the Articles require the agreement of over 75% of contributors.
Club 1872 Operations
Will Club 1872 be involved in the day to day running of Rangers? +
No. Club 1872 is a major shareholder but is not directly involved in the day to day running of the club. With a large shareholding, Club 1872 will be in a position to scrutinise the decisions made by the Executives and the Board of Rangers and work with them to grow and develop the club whilst representing the views and concerns of our members. As we grow our shareholding we will also, in line with the wishes of our members, seek formal representation on the Rangers Board. It will remain the job of the Executive Team to run Rangers on a day to day basis and make operational decisions.
How would Club 1872 be represented on the Rangers board? +
As we build our shareholding and grow our membership through legacy donations, Club 1872 will re-enter discussions with Rangers about representation on the RIFC Board. It is important to stress that it will not be Club 1872 Directors who take up an RIFC Board position. The Directors will identify candidates who can not only represent Club 1872 but also make an important contribution to the RIFC board through their expertise and experience. The chosen candidate will then represent the organisation’s shareholding on the board and ensure that the views of Club 1872 members are represented at all times. This will not change the way Rangers Football Club is run on a day to day basis. Club 1872 would not be involved in day to day decision making at Rangers, but rather would retain oversight of that process through regular interaction with the Rangers Board and Executive Team.
What should I expect from being a Club 1872 member? +
Club 1872 members will receive a quarterly update on all aspects of the organisation via email. You will also receive all Club 1872 statements and major announcements via email. All polls will be notified to you via email so that you can vote on them via the Club 1872 website. You will also have the opportunity to take part in Club 1872 experiences which include ‘money can’t buy’ tickets to watch games from the Directors Box at Ibrox.
Most importantly you will always have a say on the major decisions about your football club.
If Club 1872 is successful in raising the funds required to purchase Dave King’s shareholding will the entire 5% admin budget be used for administration costs? +
No. The 5% admin cost exists to provide a small budget for the running of Club 1872 and has been approved by the Community Interest Company Regulator. This currently extends to a small office in Copland House, a full time admin assistant, an automated mailing system, accountancy costs, website hosting costs and other related technology costs. Club 1872 Directors are not paid and do not take any expenses.
We hope in the future to utilise any increased admin budget that comes from increased revenue to provide a small marketing budget and to put in place an enhanced operational structure for the organisation. This may involve taking on additional staff to improve service to members and our ability to grow the organisation, as well as spending on social media, billboard and possibly radio advertising.
Given the target of purchasing the entire Dave King shareholding, it is possible that the admin budget available over the time of the agreement could reach £650,000 - based on the current 5% level. The present Club 1872 board can commit to members that only a fraction of this £650,000 would be used for admin with the vast majority being retained to purchase shares. We would also hope that over time, as more members join the organisation, we can formally reduce the percentage of funds set aside for administration. However, this will only be possible as the organisation grows as we require a 5% administration budget to meet current costs based on current revenue. It should also be noted that Club 1872 runs on a tiny fraction of the administration costs of similar types of organisations.
At all times the elected Club 1872 board members will seek to limit administration costs and will never be paid or take expenses from Club 1872. This is guaranteed by the Club 1872 Shares CIC Articles of Association which can only be changed with 75% member approval.
Club 1872 Account Issues
I am having trouble logging into my account or changing my payment. +
Please contact firstname.lastname@example.org if you have any issues logging in to your account or updating your donation or payment details.
Why are there different donation levels? +
We felt it was important to make Club 1872 affordable to all Rangers supporters. We would encourage people to donate as much as they can afford.
Club 1872 Elections/Board
How do Club 1872 elections work? +
The Club 1872 board is elected on the basis of one member, one vote. Directors can serve a maximum of 3 years before they have to be re-elected or affirmed by the membership. More details are available in the Club 1872 Shares CIC Articles of Association.
How many people are elected to the board? +
Currently, up to 5 board members can be elected to the Club 1872 board. Should the Club 1872 membership wish to amend this in the future they can.
Do projects mean we give something away for nothing to the club? +
That will not be the case. CIC rules mean that there must be benefit to the Rangers community from every project undertaken by Club 1872. Projects must be beneficial to the support and will hopefully also benefit our Club.
Is Club 1872 independent from Rangers Football Club? +
Club 1872 is independent from everyone but its members, who will make all of its key decisions. However, our aim is to work closely with the Rangers Board, major investors and executive team for the benefit of the club.
The community interest companies which are at the heart of its structure have been set up for the benefit of the community of Rangers Supporters and Rangers Football Club.
We will work with the Boards of the companies which own our Club and with other shareholders, so long as our members are satisfied that they have Rangers Football Club's interests at heart.
Club 1872's directors will be subject to election to ensure they are accountable to members and to allow members to control how Club 1872 is run.
Does Rangers Football Club support Club 1872? +
Yes, the RIFC Board has made it clear on a number of occasions that it fully supports increased supporter ownership of the club through Club 1872
Will Rangers decide what projects Club 1872 is able to provide? +
No, with Club 1872 it will always be the members who decide. We will work with the Boards and executive team at Rangers to create and develop projects and also ask our members to put forward their proposals. It will be the members of Club 1872 who decide which projects are undertaken on a one member one vote basis.
Can anyone enter the Experience draws? +
From time to time Club 1872 Ltd will be offered experiences which can be made available through our website to members or applied for by writing to the company's registered office with details of your name, address, email address and age. A separate application needs to be made for each item which is made available and applications must be received within any applicable time limit.