Rangers have posted healthy annual accounts and they “almost certainly” include details of the settlement fee paid to Sports Direct and Mike Ashley.
The Gers have been embroiled in something of a retail war with the High St businessman for close to a decade and announced earlier in the year that all existing disputes had come to an end.
Rangers fans have been waiting eagerly to find out more about the situation and according to a renowned football finance expert the accounts “almost certainly” allude to the settlement in the non-recurring items section of the report.
In a quick analysis of Rangers’ accounts on Twitter, Kieran Maguire goes into some detail regarding the facts and figures and what they mean.
It’s well worth a read and you can check it out HERE.
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The Price of Football host compares Rangers’ most recent annual accounts against some of the Gers’ previous and against those of Old Firm rivals Celtic.
Rangers release annual accounts
Rangers’ accounts as a whole have a positive outlook with the Gers raking in £86.8m of revenue and boasting an operating profit of £5.9m. That’s a substantial improvement of £27.6m from last season.
Rangers – led by director of communications and marketing James Bisgrove – also made a record £28.4m from commercial income last season
Read the Rangers’ annual accounts HERE.
“The past year has provided many highs and lows, along with challenges both on and off the park, but ultimately, I believe we are continuing to grow stronger as a Club,” said Chairman Douglas Park in a statement.
“This time last year, I repeated my belief from 2015 when this current Board took control of the Club, that this would be a 10-year recovery project.
“While there have been moments in the last year that have exceeded both my own and the Board’s expectations (with specific reference to the Europa League run to the final) we cannot, and will not, stand still and continue to have so much more to do.
“Assisting us on that path are our strong executive team and talented staff both at Ibrox and at the Rangers Training Centre.
“Rangers was created by four pioneers, and it should be and is the aim of every single employee of the Club to continue in that spirit.”
Whilst we expect more analysis on the Rangers annual accounts in the days to come, the situation with Mike Ashley and Sports Direct is certainly interesting but even with the substantial expense, it now appears the club have a monkey off its back.
Meanwhile, one key Rangers star has found himself involved in a major international leak.