The Malaysian Insider :: Sports
The Malaysian Insider :: Sports |
| Rangers step up plans for stock market return Posted: 18 Sep 2012 08:58 AM PDT LONDON, Sept 18 – Fans of former Scottish soccer 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. The new owners of Rangers have appointed Capita Registrars to handle share registration services, the club said today, after hiring Cenkos Securities to advise on raising additional funds earlier this month. Rangers, Scottish champions a record 54 times, have been demoted to the fourth tier of the game in Scotland after their financial failure, which began with administration in February and their relaunch as a new club in June. "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," Chief Executive Charles Green said in a statement. Institutional investors have shown limited appetite for owning soccer club stocks, given the high salary costs in the sport and the way setbacks on the field can affect earnings. Rangers have made a muted start to life in the lowly Scottish Third Division. They are currently fourth in the 10-team league which they had been expected to dominate. – Reuters |
| La Liga should be more competitive: Barca chief Posted: 18 Sep 2012 07:47 AM PDT  FC Barcelona President Sandro Rosell (L) is seen with Microsoft Chairman Bill Gates (R) at an event in this file photo. Rosell says Barcelona want to seek ways to make La Liga more competitive so that other teams apart from themselves and Real Madrid have a chance of winning the title. – Reuters pic Speaking at an event in Brussels, Rosell agreed that a league in which the big two, the world's richest clubs by income, were not always so dominant would be more compelling. "No no it's something I fully agree with," Rosell said when asked if it would not be better to follow the English Premier League model, where three or four teams scrap for the title and the top dogs slip up against lesser sides much more regularly. "We have to sit down with the Spanish teams and look for solutions on that yes, I agree," he added. One of the reasons for the dominance of Barca and Real in their domestic league is their stranglehold over income from audiovisual rights. There is no system of collective bargaining and revenue sharing like in other European leagues and they take about half of the total pot of around €600 million (RM2.42 billion). Clubs like Atletico Madrid, Sevilla and Espanyol have been trying to persuade Barca and Real to share TV money more equitably and have even accused the big two of "stealing". Rosell suggested Barca might be prepared to accept change, although club officials have made it clear in the past they would not be prepared to see their share of the pot shrink. They have said they might, however, accept sharing some of the extra money that was negotiated with media companies in future deals. "This is exactly one of the things we have to discuss with the rest of the clubs," Rosell said when asked about the television revenue issue. "In fact we had some meetings in the past, last year, and as from 2014-15 we decided a new distribution of TV income for Spain," he added, without elaborating. "So yes we are improving on that and probably in the future something will change." – Reuters |
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