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Rangers in £20m Stock Exchange move

Rangers have announced that they are seeking admission to the Alternative Investment Market (AIM) of the London Stock Exchange in a move to bring in up to £20 million.

The Ibrox club are continuing to revitalise their finances after a chaotic summer which saw the old Rangers liquidated and replaced by chief executive Charles Green's newco club.

If all goes according to the plan, the club could be admitted to the AIM, with the money being invested in the development of the club during what Green and his board hope will be a swift return to the top of Scottish football.

A statement said: "The funds raised will be used for strengthening the player squad, improving and developing the club's properties and facilities, as well as providing additional working capital.''

Green said the move would also enable supporters to become involved with the club's renaissance, explaining: "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.

"I am delighted that our plans are coming to fruition. Rangers is debt-free and a huge club with enormous support and a 140-year track record of success in the domestic and international arenas.

"Our aim is to return the club to its glory days whilst ensuring it is run efficiently and profitably.''

Ibrox chairman Malcolm Murray said the stock exchange move was the next stage in the club's development, "which is full recovery and growth".

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