Rangers News

Gers books don’t look good but it’s not all doom and gloom

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The release of Rangers financial results revealed nothing that we didn’t already know; we are not yet self-sufficient, we require fans through the doors to generate income and we need to start selling players for decent transfer fees.

For perspective and to simplify things as much as possible – and I am by no means a financial expert – the reported losses of £23.5million are made up, largely, by the absence of fans due to the Covid-19 pandemic with £17m being missing from the accounts due to having to play games behind closed doors.

There is also money that has been spent on infrastructure at Ibrox, the training centre and Edmiston House that won’t be outgoing on an annual basis, there was also a transfer spend that – in the future – is planned to come from the sales of top players – Ianis Hagi, Kemar Roofe and Cedric Itten were all bought with very little coming in the opposite direction.

In short, despite the headline figure. We aren’t far away from where we want to be but we can’t keep relying on directors and shareholder to cover these losses.

The improved merchandise deal with Castore, the number of commercial and partnership deals doubling, a fully functioning conference and events facility on our doorstep are all things that we will be seeing the full benefit of over the next few years.

Were it not for Covid we would have had a more accurate picture of how our recovery is going, the chairman spoke about us still being well on track to achieve the aims of our ten year plan and I have no reason not to believe him but there is one very obvious area that we need to improve on in the credit side of the accounts – player sales.

You know it, I know it, the board knows it and so does Ross Wilson, only once our recruitment strategy fully pays off will we be able to stand on our own two feet.

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