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SBD Global/September 19, 2012/Franchises

Scottish Third Division Club Rangers Plan Stock Market Return

Fans of former Scottish football champions Rangers "will be able to register next month to buy shares in the Glasgow club, which is preparing to return to the stock market after collapsing under the weight of its debt," according to Keith Weir of REUTERS. The new owners of Rangers have appointed Capita Registrars to "handle share registration services," the club said on Tuesday, after hiring Cenkos Securities to advise on raising additional funds earlier this month. Rangers CEO Charles Green said in a statement: "The Rangers Football Club will make further details available shortly and expects that fans will have an opportunity to register their interest in purchasing shares in The Rangers Football Club in October" (REUTERS, 9/18). The PA reported that Green "has been issued with a notice of complaint by the Scottish Football Association." Green "was charged for alleged comments" made regarding the integrity of the commission, chaired by Lord Nimmo Smith, which "will investigate the Ibrox club's use of Employee Benefit Trusts." Green refused to recognize or cooperate with the commission, set to meet on Nov. 13, and was reported as saying: "That's what we're going to spend our time doing, not turning up at supposedly independent hearings where the SPL appoint the jury, set the outcome, and set the punishment before we have the trial." Green has been charged with breaching disciplinary rule 66 by allegedly "Bringing the game into disrepute by calling into question the integrity of the Commission" (PA, 9/18).
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