Field Fisher Waterhouse and Travers Smith have both taken roles advising on Scottish football club Rangers' proposed £20m float on the Alternative Investment Market (AIM).

Field Fisher is advising Rangers on the listing led by London corporate partner Christine Phillips, while Travers is acting for Cenkos Securities, the securities adviser on the float, led by corporate finance and M&A partner Philip Cheveley.

Rangers announced its intention to list today (11 October) in a bid to raise funds for "strengthening the player squad, improving and developing the club's properties and facilities".

The news comes after Rangers went into liquidation earlier this year before being purchased by former Sheffield United chief executive Charles Green in June in a deal worth £5.5m. The newco club was subsequently placed in Scotland's Division Three after a vote by the Scottish Football League.

Field Fisher advised Green on the deal led by sport head Patrick Cannon, alongside Phillips and corporate partners David Wilkinson and Amerjit Singh Kalirai.

Meanwhile, Rangers' administrators Duff & Phelps are gearing up to take Collyer Bristow to court over negligence claims totalling more than £25m relating to the firm's role on Rangers' 2011 takeover and subsequent administration.

Collyer has instructed Clyde & Co for its defence, with commercial disputes partner Richard Harrison leading the action for the firm. Harrison has instructed 3 Verulam Buildings's Cyril Kinsky QC and Matthew Hardwick as counsel.

Taylor Wessing is advising Duff & Phelps led by restructuring head Nick Moser.