Genius private equity investor backs football club Glasgow Rangers

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Scottish football club Glasgow Rangers has received a cash injunction from private equity firm Pri Arc, run by former city trader Kieran Prior, The Daily Record has reported.

Prior, who claims an IQ of 234 – one of the highest in the world – was formerly a trader at Goldman Sachs.

He confirmed the purchase of a 1.2 per cent stake in the club, making him the single largest shareholder, paying £400,000 for 785,000 shares.

“I can confirm I’ve purchased 1.2 per cent of the club and I plan to increase my stake in the next 24 hours, subject to supply,” he said in the report.

“This is a situation that has arisen through unfortunate circumstances at the club, which is breeding an investment opportunity.”

Rangers entered administration in 2012, which saw the company drop down from the top flight of Scottish football.

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