Rangers FC to float on Aim

The Glasgow football club is hoping to raise £20m through an IPO, which will allow institutional investors and Rangers fans alike to buy a stake in the business.

by Rebecca Burn-Callander
Last Updated: 19 Aug 2013
Risen-from-the-dead Rangers confirmed this morning that the flotation will take place before the close of 2012. The money raised will be ploughed back into the club, says chief executive Charles Green. The squad will be improved, facilities overhauled, and there will be a nice chunk of additional working capital left over.
Fans wanting to invest have been asked to register their interest from 5pm today. Green is expecting a deluge of requests: Rangers boasts one of the highest percentages of season ticket holders in Britain.
‘From the time we acquired the business and assets of Rangers FC, we indicated our intention to list the company and provide our fans with the opportunity to invest in their club,’ he says. ‘I am delighted that our plans are coming to fruition.’
This has been a tough year for Rangers, which collapsed under the weight of its debt earlier this year and was penalised with a 10-point reduction, which booted the club out of the first division and effectively handed the premiership title to Celtic. Once new owners had taken control of the club, Green accused Rangers’ former backers of bringing ‘shame’ on the Rangers. But the relaunched club is quite the turnaround success. ‘Rangers is debt-free and a huge club with enormous support and a 140-year track record of success on the domestic and international arenas,’ says Green.
With this flotation, Green and the clubs owners are hoping to restore confidence in Rangers. Green says: ‘Our aim is to return the club to its glory days whilst ensuring it is run efficiently and profitably.’ And Rangers is letting fans buy a small slice of that glory too. Ah. 

Find this article useful?

Get more great articles like this in your inbox every lunchtime