Rangers fans are right to be concerned about funds at Ibrox, and we can’t say we don’t blame our fellow peers.

Steven Gerrard – £4.5M
Nathan Patterson – £16M
Joe Aribo – £10M
Calvin Bassey – £23M
Europa League run – £35M
Champions League qualification – £20M

Now while three of those figures are gross and probably won’t be reached, there is still serious cash in here.

A net total, since November 2021, of about £100M, give or take.

Now, we know from previous accounts years that Rangers’ average outlay per year is in the £75M-£80M range, but that is WITHOUT a massive £100M bonus on top of conventional revenue streams.

So we really do have to wonder what on earth happened to all the extra cash Rangers made?

Rangers made more in November 21-November 22 than any Scottish club has made in its history in 12 months. More than Celtic, who haven’t actually made any major player sales for a while now, French Eddy and Ajer being the last two, but they were two+ years ago.

Meanwhile, Rangers have been raking in serious cash, the Europa League windfall helping a lot.

And yet we don’t seem to have a war-chest for this summer at all, and could only afford £3.75M in January?

We must admit that we truly thought those sales, the UEL cash and the Champions League qualification money would bolster our club massively.

Bizarrely, it’s gone the other way – Rangers now seem to have less cash than normal, despite the fact the income has gone up.

So what’s going on? Why are Rangers’ coffers so poor?

We just do not know, and while there are better financial gurus out there and we will speak with Ibrox Noise’s resident account, nevertheless, there’s a real question to be asked here.

It’s odd, it’s puzzling, and it makes us wonder how £100M just seems to have vanished – Rangers had enough to challenge Celtic, to surpass Celtic.

Instead we’re signing injured freebies like Kieran Dowell and being linked with nothing but Bosmans otherwise for this window?

It doesn’t exactly add up, does it?