After a recent development, risks could harm Rangers and Ibrox supporters – Finance Expert

After a recent development, risks could harm Rangers and Ibrox supporters – Finance Expert

Following recent developments, finance expert Dan Plumley has highlighted potential risks that could adversely affect Rangers and its supporters at Ibrox, particularly in the fan token market.

The Rangers token reportedly experienced the most significant drop in value among all clubs in 2023, with a decline of over 46%, as indicated by a study from CoinLedger, as reported by the Scottish Sun.

Plumley acknowledged the existence of opportunities in the fan token market but emphasized the current prevalence of risks that could impact both the club and its fans.

He pointed out challenges related to understanding the nature of these tokens, uncertainties regarding the benefits for investors, and legal considerations.

While acknowledging that football faces governance issues, Plumley suggested that a closer examination of this market might be warranted in the future.

The football finance expert cautioned against dismissing opportunities in this space entirely but stressed that, at present, the associated risks pose potential harm to both the club and its supporters.

This situation echoes a previous instance where the market did not yield favorable results for Rangers, as NFT company Sportemon Go, enlisted as shirt sponsors in 2022, ceased trading.

Despite challenges, Rangers’ Commercial Director James Bisgrove, known for his effectiveness in bringing in revenue for Ibrox, remains supportive of exploring new avenues.

However, the success of such initiatives is yet to materialize, leaving room for potential changes in the future.

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