Advisers score with Rangers IPO

IT may have been deal for a famous footballing institution more than 200 miles away, but the last month’s flotation of Rangers FC, had plenty of North West involvement.

As well as a personal investment from Manchester-based financier Richard Hughes of Zeus – which acted on the acquistion from insolvency last June of the Glasgow club’s assets – a team from Deloitte was also heavily involved in the AIM listing.

The firm’s Manchester and Liverpool offices provided tax, corporate finance and audit support to Rangers International Football Club plc, the new parent company of the club.

The Deloitte team comprised partners Richard Bell and Damian Sanders and senior manager Tim Grogan from the capital markets team in Manchester, specialists from the Manchester-based Sports Business Group and corporate tax partner Sean Beech in Liverpool.

Mr Beech said: “This has been among the most interesting and challenging client assignments, from discussions in June with senior HM Revenue and Customs officials about the very viability of the football club, through to the successful AIM flotation.”

Charles Green, chief executive of Rangers, said: “The support and the guidance provided by Deloitte through the process of acquisition of Rangers and the subsequent IPO were outstanding.”