Scots Soccer Rebels to Tackle TV Cash

Article excerpt

Byline: MICHAEL WALTERS

PLANS to wring more money from TV are behind the news that the top football clubs are to resign from the Scottish Football League to form a separate league under the auspices of the Scottish Football Association.

There are three Scottish clubs with share listings.

Ironically, Heart of Midlothian, the smallest, is the only one with a full London Stock Exchange quotation. Hearts shares rose 4 1 / 2 p to 108 1 / 2 p yesterday, valuing the company at [pounds sterling]11m.

Celtic, listed on the Alternative Investment Market, rose [pounds sterling]5 to [pounds sterling]31.

Rangers gained 10p to 525p on Ofex, the lightly regulated market outside the Stock Exchange.

English National Investment Company, a fully-listed trust developing into a leisure investment operation, has an option on 25.1pc of Rangers.

ENIC shares were unchanged at 244p.

The English Premier League milks BSkyB alone for [pounds sterling]167m a season, while the Scots earn some [pounds sterling]4m a year from their TV deal. …