Rangers director of commercial and marketing James Bisgrove has asserted that the club are aiming to make at least £1m profit per year from New Edmiston House [Four Lads Had a Dream].
After extensive planning, work is finally underway on the site, as Rangers attempt to open a state-of-the-art facility during the club’s 150th year.
New Edmiston House will be used on matchdays but will also host events and concerts, as well as being the home of the club’s museum.
In an interview with Steven Clifford of Four Lads Had a Dream, Bisgrove spoke of his enthusiasm for the project and the plans for it to provide significant, consistent financial boosts for the club.
“Everyone connected with Rangers is hugely excited at the relaunch of Edmiston House and the opportunity it presents across a number of areas to enhance the matchday and non-matchday experience for Rangers supporters,” he said.
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“The objective of the venue is to transform the matchday experience and give Rangers fans a reason to spend more time at Ibrox.
“Commercially, we have developed an ambitious business plan for the venue to generate a seven-figure annual profit for Rangers across multiple revenue streams such as live events (focusing on gigs, concerts), conferences, the club museum, matchday fan zone and club events (live screening events, Legends nights etc).”
Bisgrove went on to confirm that New Edmiston House will be operated by the club’s Commercial and Marketing Department, with a ‘high calibre’ General Manager soon set to join the club from a prominent live events venue in London.
Prior to the pandemic, fans were crying out for an extra facility that would enhance the matchday experience and it’s clear that Rangers expect New Edmiston House to do just that.
The recruitment of an experienced General Manager shows the club’s determination to deliver a quality experience and to maximise revenue from this new venture, while seven-figure annual profits would help the Gers to move towards the kind self-sufficiency that deputy chairman John Bennett has talked about at length.
Bisgrove has also dropped an exciting Rangers accounts tease after the club’s commercial revenue increased ‘dramatically’.