Rangers to float on AIM
Most clubs have pulled out of the stock market because of the costs involved and the disclosure requirements. However, Rangers have announced that they are floating on the second tier AIM market with registration opening at the end of today.
They hope to raise £20m, principally from institutional investors, but also from the public. The statement emphasises the quality of their stadium and training facilities, but pays less attention to their third division status. They are currently 3rd and have suffered from disappointing away form.
The chief executive of the Scottish Premier League claims that the competition has coped well with the absence of Rangers. But he is bound to look on the bright side of life. Whatever the rights and wrongs of how Rangers should have been dealt with, it is difficult to see these events as a step forward for Scottish football as a paying proposition.