The board seems to be saying Rangers can’t spend
Mandatory Credit: Photo by Stuart Wallace/BPI/Shutterstock 11882284e Rangers Chief Executive Stewart Robertson arrives at Ibrox Stadium Rangers v Celtic, Scottish Premiership, Football, Ibrox Stadium, Glasgow, UK - 2 May 2021 EDITORIAL USE ONLY No use with unauthorised audio, video, data, fixture lists, club/league logos or live services. Online in-match use limited to 120 images, no video emulation. No use in betting, games or single club/league/player publications. Rangers v Celtic, Scottish Premiership, Football, Ibrox Stadium, Glasgow, UK - 2 May 2021 EDITORIAL USE ONLY No use with unauthorised audio, video, data, fixture lists, club/league logos or live services. Online in-match use limited to 120 images, no video emulation. No use in betting, games or single club/league/player publications. PUBLICATIONxINxGERxSUIxAUTXHUNxGRExMLTxCYPxROMxBULxUAExKSAxONLY Copyright: xStuartxWallace/BPI/Shutterstockx 11882284e
Whether or not Robbo is telling the truth about Champions League cash barely being £20M and not double it (like most facts seem to suggest) doesn’t actually matter, the Managing Director’s announcement appears to have poured a lot of cold water on the idea of the club having money to spend. Or being willing to.
At all.
To reject the amounts of cash the club was reported to have received hints that the club is not going to spend in the way we’d hoped.
We were under the impression we got £16M gross for Patterson, £4.5M for Gerrard, £23M for Bassey, £10M for Aribo, £30M for the UEL run, and £40M for making the group phase of UCL.
Whether Robertson is accurate in his numbers or not, he is poo pooing any notion the club now has financial health and the ability to spend.
Is it due to outlay? Has outlay this past year been greater than ever?
Normally the club has, give or take, £80M overheads, but £80M revenue per year – this past year has seen well over double that for revenue given those player sales and Euro revenue.
And yet the MD appears to be slightly denying that we actually have that money, and more to the point, inferring we have little to nothing to spend.
Why not?
Where is the cash going? Loan repayment? Debt? We know about Sports Direct, Edmiston House and other extra costs being around £30M, but is Robertson really telling us we’ve more or less broken even and no more?
What does this mean for January? Will we have little to money then too?
We’re not exactly thrilled with the messages from Ibrox right now.