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Scottish League Two

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The mystery backers of Rangers

Rangers FC has partially disclosed information about the backers who rescued the club.  As is not unusual in modern football, they include trusts located in offshore financial havens.

The largest shareholder is Dubai businessman Arif Naqvi.   The chief executive of private equity firm Abraaj Capital, he owns 4 million of the 25.5 million shares through a vehicle called Blue Pitch Holdings.

Will fans want a stake in Rangers?

Flotation of football clubs in which fans are encouraged to take a stake have gone out of fashion.  The recent offer of a stake in Manchester United was a debt reduction measure aimed at (supposedly) sophisticated institutional investors.

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.

Rangers face membership deadline

Rangers have until Friday to sort out the membership requirements to play in the Scottish third division. The sticking point in relationship to their membership of the Scottish Football Association is accepting a twelve month transfer embargo.