Hi
Quite probably in the club or general news but happened to read this in a newsletter I receive ( AIM stands for Alternative Investment Market, a junior division of the London Stock Exchange)
"Rangers International Football Club (RFC) listed on AIM, raising 22.2 million pounds before expenses. The firm issued 65,096,056 shares at 70p, giving an initial market capitalisation of 45.6 million pounds. The proceeds of the placing will be used to upgrade the club's Ibrox Stadium and to fund the acquisition of land around the ground. It is hoped that the admission will act as a springboard for the club to return to its glory days of dominating Scottish football after being demoted to the third division following administration earlier in the year. The shares closed at 76p."
Some more chat here ( IPO stands for Initial Public Offering) :
"Fans of Rangers’ IPO trot out that old million pound chestnut: it is different. The fat has been cut out and what remains is pure protein. Rangers’ die-hard supporters regularly turn up to fill the Ibrox stadium close to its 51,000 capacity. There is no debt, the expensive players have gone, leaving a team still well able to beat its rivals. Imagine, say followers, what Rangers could earn in sales of tickets and football shirts when it takes its rightful place in Scotland’s top league in a year or so.
At this point, the group’s backers become all misty-eyed and talk about cup wins, playing in Europe’s lucrative Champions League, selling TV rights for millions and juicy sponsorship deals.
Charles Green, Rangers’ far from dewy-eyed chief executive and a veteran of Sheffield United, reckons he can raise Rangers up without borrowing or overpaying for new talent. He has promised to cap the payroll at a third of revenues. That will be easy for the next year while Rangers is banned by the Scottish Football Association from transferring players.
However, it will be hard to hold the wage bill back once Rangers starts playing top-tier football where pay averages two-thirds of revenues. Soccer’s governing bodies may be pushing for greater financial discipline and player fees may come down, but it will take time.
Mr Green can only be sure of keeping his promise if he makes more of Rangers’ brand and revenues soar. Fans should brace themselves for a rise in ticket prices. The new merchandising deal signed with Sports Direct – whose owner, Mike Ashley, owns 8 per cent of Rangers – could really spice up revenues."
Someone else, obviously a Rangers fan was very quick to point out that Rangers market capitalisation( one measure of value) was already higher than Celtic`s.
