Rangers have borrowings in excess of £20 million, over double that of anyone else in the Scottish game.

The news comes after it emerged in November that Rangers made a loss of £14.3 million. At the time, the figure stuck out like a sore thumb in Swiss Ramble’s financial analysis of SPL clubs.

The new figures, which focus specifically on borrowings, come courtesy of football finance expert Kieran Maguire.

The stats, published in The Scotsman, revealed that Rangers borrowed £22.5 million during the course of 2017-18. This is over double the £10.8 million that rivals Celtic borrowed, over the same period.


A primary driver behind the stats will be transfer fees, as the Gers invested heavily in new players. However, the question still begs that with 50,000 people consistently packed into Ibrox, how are the club unable reduce some of their deficits?

Rangers spent heavily to back former manager Pedro Caixinha, who didn’t even last a season in the job. (Photo by Azael Rodriguez/Getty Images)

£22.5 million is an enormous figure. Yet, it is just a fraction of what others have borrowed.

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University of Liverpool lecturer, Maguire, revealed that British football clubs owe a staggering £3.5 billion to banks. Perhaps unsurprisingly, Manchester United are the biggest individual borrowers at nearly £500 million.

Yet, the same United, feature near the top of football’s rich list on a yearly basis. Therefore, Rangers’ appearance on this list shouldn’t set off major alarm bells.

However, the club’s Old Firm rivals continue to be more financially efficient. One can’t help but feel that Rangers need greater parity off the pitch, before they can dominate on it.

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