£25M loss – the truth behind Rangers’ accounts statement

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£25M loss – the truth behind Rangers’ accounts statement
Highly doubt they'll change tact....

Rangers’ latest accounts make for very sore reading, and show two or three drastic truths which could deeply affect this club going forward.

The first is that we were desperately badly-hit by Covid – no other big club in the world was as badly hit as Rangers, simply because our revenue leading up to the past few years for the bulk of the decade has been significantly down through being in the lower divisions.

As such, we didn’t have the pool of cash big clubs who haven’t been through our Journey have, and this left us short, majorly short, through the challenging times of Covid.

Yes, smaller clubs have suffered badly, we’re well aware of it, but Alloa haven’t made losses of £25M because their revenue pool is infinitely shallower.

Rangers spent a lot in the summer of 2020 and prior, but haven’t had anything like the incoming to balance it.

And there are two major reasons for this.

The loss of CL this summer was absolutely gargantuan.

This club was 100% counting on that to turn £25M loss into £15M+ profit, and it didn’t happen. Yes, the accounts are up till June this year, but nevertheless that lack of CL football means the situation isn’t going to turn round quickly.

The other major reason? Our fails in the transfer market.

We just cannot sell anyone at the market value of £10M plus. We keep valuing our prize players for Dembele Dollars but only Celtic can seem to sell players for those numbers.

This means we’re missing out on £10M, £20M sales that they can muster for junk like Ajer, and that’s putting them in such a strong financial position while ours weakens.

We don’t think we can stress how deeply important CL football is next season, how deeply important winning the SPL is.

It’s money, quite simply, we cannot afford not to have.

Living on soft loans, while the facility is secure and our future safe, is not the way to grow – we’ve just had to pay Dave King back nearly £10M.

So can we say again – we MUST win the league, and we really MUST sell someone.

The sooner Rangers are healthy in the black, the better.

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2 COMMENTS

  1. It’s not quite accurate to say we lost £40m CL money. We are in the Europa League and pre Covid we made around £18m from our Europa League run. Still a big loss but not quite £40m. Our real issue is as you say our inability to sell anyone. Previously we had prize assets like Morelos, Barisic, Kamara and Kent but as things stand we’d be lucky to get £5m for any one of them.

    • Rob, we’d have secured in the region of £40-£60M for CL – so yes, we stand by our figures. Point taken though.

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