Just as Rangers appeared to be heading on the right tracks financially we were hit with a global pandemic that has changed the immediate and, potentially, long-term plans for the club.
Part of that recovery has seen the announcement of a new kit deal with Castore which means that we are now set to be guaranteed at least £25million over the next five years, a far cry from the pennies that were being made under Mike Ashley’s cast iron grip or our merchandising contracts.
Speaking to Football Insider, Kieran Maguire, a football finance expert, has explained the importance of such a lucrative deal:
“It’s very significant. Rangers have a very devoted fan base. They have a very diverse fanbase in terms of geography.
“They are more dependent on matchday revenue than most clubs. Of their total income, matchday revenue is 60%. The highest in the Premier League is 24% and the average in the Premier League is 14%.
“Rangers made £35m from ticket sales last season, which is amazing. They sell out all the league games, they sell out the Europa League games too. So to lose that is a big hit.
“The amount they were making through merchandising had fallen because there was a sort of quasi-boycott by the fanbase due to the fear that money was going in some way to Mike Ashley because of prior arrangements. Therefore the Castore deal is a clean break.”
The money that is made from Castore will obviously be significant give the scale in which Rangers fans have invested their hard earned money – even if there were initial teething problems.
Are you now happy with the Castore deal?
Yes
No
We have been trying to compete with one arm tied behind our back in recent years so to finally hit the front with the additional income coming our way is only going to help us stay at a level where the fans loyalty deserves us to be.