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Scottish League Two

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Lower league football finances in Scotland

The financial realities of lower league football in Scotland are demonstrated by the latest accounts of Berwick Rangers.   Staff were paid on average £143 a week compared with £8,000 at Rangers.

Their last home game saw an attendance that was 10 per cent of capacity.   The club is reliant on a good cup run to keep its finances balanced.

Scots opt for pyramid

The Scottish FA has agreed to a new pyramid system that allows for promotion and relegation to and from the Third Division. There will be play offs between the bottom club in the Scottish Premier Football League and the champions from each of the Highland League and the new Lowland League.

Among the teams in the Lowland League are phoenix club Gretna 2008, Edinburgh City, University of Stirling and the superbly named Gala Fairydean Rovers. However, the also aptly named Civil Service Strollers are not included.

Rangers could play south of the border

Charles Green has returned to his contention that Rangers (and probably Celtic as well) will be playing south of the border within five years.   He claims that two English clubs have approached him and offered their shares in the Football League if Rangers were prepared to take on all their liabilities.  

Rangers argue EU law gives them right to play in England

Attempts by Rangers to play south of the border have got nowhere so far, but now they are arguing, with the backing of opinions from three separate law firms, that keeping them out would be a breach of EU competition law.

Rangers make operating loss

Newco Rangers made an operating loss of £7.1m in the seven months to 31 December 2012.  This turned into an overall profit  before tax of £9.5m due to a one off accounting credit of £20.4m described as 'non-recurring release of negative goodwill' and there is certainly plenty of that around in Scotland as far as Rangers are concerned.

Rangers get heavy fine but keep titles

Oldco Rangers have  been fined £250,000, but allowed to keep their league titles after a Scottish Premier League investigation into historic non-disclosure payments to players.   Rangers still feel aggrieved about what they see as draconian treatment but the outcome could have been a lot worse.

Could Rangers join Conference?

Blue Square Conference clubs are discussing whether to invite Rangers to join their league.   Rangers are unhappy about a planned restructuring of the Scottish leagues that would see them languishing in the bottom division even if they won the third division this year.

Successful launch for Rangers

Rangers Football Club won a favourable reaction from investors on its Aim debut, trading above its 70p flotation price.  The club exceeded its £20m fundraising target, raising £22.2m and gaining a market capitalisation of £45.6m.   Shares reached a high of 77p during first day trading before closing at 76p.


Although there was considerable institutional interest, about 11 per cent of the shares went to some 5,000 ordinary Rangers fans from whom about £5.2m was raised.   Chief executive Charles Green is the biggest shareholder with 8 per cent.

Rangers launch on AIM

Rangers International Football Club are to issue new shares at 70p each on the Alternative Investment Market next week, raising £24.5m after expenses,   The minimum investment is £500.

Mike Ashley, the owner of Newcastle United, will own a 5.20 per cent stake in the club, while leading institutions such as Artemis, Cazenove and Legal & General have also subscribed for shares.   The accounts value the club's property at £43m and it is now debt free.

Rangers win tax case

Rangers have won their tax case  at a tax tribunal over their payments to players through Employee Benefit Trusts which Revenue & Customs argued were illegal.   The tribunal ruled that they should be treated as loans for tax purposes, although they reached this decision by a two to one majority verdict. Revenue & Customs has said that it is disappointed by the decision and may appeal.