The initial public offering (IPO) was launched last week, and already interest in shares has been substantial.

The Herald understands that more than 7500 investors have registered with indicative pledges that would raise £15m.

The IPO prospectus has still to be released, and no investor will commit before seeing full details of the assets and financial health of the club, but sources at Ibrox are delighted with the response.

Supporters have been registering in their thousands for a prospectus. Only current and former season ticket holders, as well as former shareholders, are eligible to buy shares, with the minimum price set at £500.

Mr Green said all the money raised would stay with the club. The chief executive explained the early launch of the IPO by saying it would be cheaper to buy in now, though he had to issue an apology to Aston Villa for disparaging remarks and miscalculating their turnover.