BBC Sport reports that Rangers and the other 41 clubs in the Scottish league pyramid have received a boost from the SPFL as the association has started sending advanced payments amid the uncertainty caused by the global pandemic.
Professional and grassroots football has been suspended for almost two weeks and it’s been well publicised that clubs will soon be feeling the pinch given that there could be months without fixtures.
While Rangers haven’t released any statements outlining the club’s financial position, Hearts have asked staff to take a 50% wage cut [Heartsfc.co.uk], while Aberdeen have predicted unsustainable losses [Afc.co.uk].
Therefore, the news of advanced payments will no doubt be extremely well received.
BBC Sport reports that Rangers, Celtic and Motherwell are each receiving £395,000 plus VAT, while the other nine Premiership clubs are due £157,500 plus VAT.
There are payments for clubs in all four divisions, but these decrease significantly across each tier, with League Two sides said to be receiving just £1,350 plus VAT.
Receiving the best part of £400,000 now rather than when the payment was originally scheduled for, in April, is a major boost for Rangers.
In what are extreme and unprecedented times, it makes cash available earlier to either go directly towards player wages or to be held as a fall back option for when the absence of ticket sales starts to hit.
This shouldn’t be the final payment of the season, either, with one more SPFL instalment due if and when the league is completed.
The top three clubs are raking in substantially more than the others here, but with operating costs many times higher at Ibrox than at most other clubs in the country, the extra few hundred thousand is likely necessary.
These are worrying times for many, but Bears will be hoping the current board has the club in a solid enough financial position to steer through these choppy waters without sustaining long-term damage.