With our earlier entry on good old Phil (not so mad any more maybe) ringing in the ears, it does just remind us, on a serious note, just how far we’ve come not so much in the past 4+ years, but the past 9 months.
Since selling Steven Gerrard to Aston Villa for £4.5M in November, Rangers have completely overhauled our finances.
The follow-up £16M sale of Nathan Patterson topped up the Gerrard exit to close up the deficit to around £2.5M, while the run to Sevilla was adding another £25M (not £15M as some outlets want to claim) and found another £10M coming by the way of Joe Aribo before Calvin Bassey’s exit netted us £23M.
Now some of these numbers are gross, and include addon percentage – Patterson, Bassey and Aribo are ‘eventual’ numbers but if you want to be minimalist about it it’s still £44.5M in transfer fees the past 9 months.
We consider the full number (£54M) to be the accurate one, but both net and gross are fair – it’s just how you view it personally.
But either way, add that £25M from UEL to the £44.5M minimum and you’ve still got £70M.
Add to that the potential £40M for CL (£14M just for getting to the group, £7M for coefficient payment, anything up to £20M for TV and £9M or so in home gate receipts) and the cash is flowing. And we’ve not even mentioned the £3M for a win and £1M for a draw…
What are we getting at?
Rangers have now FINALLY got to sustainability, to living within our means, and crucially, profiting via it.
The next accounts are due in a few months, but we can assure you the numbers will be a complete chasm compared with the loss of 2021.
And the difference we’re seeing now isn’t just the Calvin Bassey sale, even if it was the cherry on top, it’s everything.
It’s ALL these revenue streams which are enabling Gio to be properly supported in the market, for the club to spend around £15M, which only a year ago was not unthinkable, but impossible due to the deficit.
One outlet suggested this is the TRUE end of the Journey, seeing the side completely in the black, profiting and back to absolute stability on a fiscal front.
And we’d not completely object to that. There is one more, and we’ll cover that in the next piece…
But at last, Rangers can spend.
It’s good to profit.