Zeus takes a place in Green’s new Rangers line-up
ZEUS Capital, the Manchester corporate financier, has invested in the new company which owns Scottish football club Rangers.
The firm has been working with Charles Green to complete the £5.5m deal which has seen the former Sheffield United director acquire the football club’s assets and create a new company, The Rangers Football Club.
Two of Zeus’ London-based directors, Imran Ahmad and Brian Stockbridge have joined the board of the new business. Mr Ahmad – who introduced the deal to Zeus – is a non-executive director, while Mr Stockbridge has joined as finance director.
The firm has also taken a minority equity stake in new-co – which is debt free and owns the Glasgow-based clubs Ibrox ground, players and training ground.
In one of football’s most high profile and complicated insolvencies the football club’s former parent, The Rangers Football Club plc, was placed into administration early this year with massive debts.
Mr Green’s consortium was forced to acquire the assets and create a new holding company after major creditor HMRC blocked a CVA deal last week.
The new company has applied to register with the Scottish Football Association and to participate in the Scottish Premier League.
Rangers is not Zeus Capital’s first foray into football finance – it advised Premier League club Sunderland Football Club on two deals including the takeover by Niall Quinn and his consortium and has also advised on the Rule 9 offer for West Bromwich Albion.
