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Rangers Seeks $32 Million on London's Stock Exchange
ESPN Soccernet, October 11th, 2012 12:36PM

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Scottish club Rangers on Thursday announced that it aims to raise just over $32 million by seeking admission to the Alternative Investment Market of the London Stock Exchange.

Following a chaotic summer in which the storied club, whose official name was Rangers FC of Glasgow, was liquidated and then relegated to Scottish soccer’s Third Division, Rangers now faces the long road back to financial prominence. If Rangers is accepted into the AIM, the money raised would be invested in the development of the club, aiding what new CEO Charles Green and his board hope will be a swift return to Scottish Premier League.

"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,'' a statement from the club said.

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