Questor share tips: Avoid Rangers like prune juice, for now Only Arsenal and Celtic are now listed in the UK, with Manchester United making an unspectacular return to the public markets when it listed on the New York Stock Exchange in August. In Rangers" defence, it is important to note that the company's IPO prospectus is unlikely to be published until the end of the month. Mr Green believes this will provide a compelling case for investors and claims City investors are already interested in backing the club. Administration means the company is now debt free. The football club owns its 51,000-seater Ibrox Stadium in Glasgow and the nearby 38-acre Murray Park training ground and plans to develop this land over the coming years. Not only this, but with 36,000 season-ticket holders and an estimated fan base of 5m people, revenue streams should not be too hard to find. Relegation to the fourth tier of Scottish football means that players" wages stand at about 30pc of turnover, compared with local rival Celtic, which spends about 60pc of its turnover on wages, according to Rangers. Questor is not about to break the habit of a lifetime and suggest retail investors start ploughing their hard-earned cash into football clubs. The club's IPO could provide fans and ambitious investors with the chance to bankroll the revival of one of Britain's most famous clubs. Mr Green has even talked about paying dividends. But for now, Questor remains bearish on Rangers. Football is a bit like prune juice after all.