Rangers’ bloated wage bill is set to be pushed to its limits once again with all four first-team loanees currently set to return to the club this summer.
Rangers have been forced to use the loan market to free up space on their annual salary bill after doling out expensive contracts to a number of high-profile flops in recent seasons.
Now, Birmingham City have confirmed that two Rangers stars will return to Ibrox this summer, with another two Gers loanees also set for Glasgow.
Ben Davies and Kieran Dowell set for Rangers return
Birmingham City have confirmed that Ben Davies and Kieran Dowell will return to Rangers at the end of their loan contracts.
Davies, 29, joined Birmingham in the summer and played 47 matches for the club as the Blues were crowned champions of League One this season.
Kieran Dowell, 26, joined his Rangers teammate midway through the season and also had a sizeable impact at St Andrews, scoring five goals and laying on four assists in 19 league games.
In a statement to supporters, Birmingham have confirmed that both Davies and Dowell will return to Rangers with their futures increasingly uncertain.
“Birmingham City can confirm the list of retained and released players following the conclusion of the 2024/25 season,” starts the statement.
”Grant Hanley and Lee Myung-Jae – who both joined the Club in January – have been released following the expiration of their contracts, while Luke Harris, Kieran Dowell and Ben Davies have returned to their parent clubs following respective loan spells.”
Kevin Thelwell’s player trading credentials to be tested at Rangers
One of Kevin Thelwell’s key duties at Rangers this summer will be trimming the fat from the Rangers squad as the club looks ahead to next season.
But it’s not just Kieran Dowell and Ben Davies who will need to be moved on either, with another two high-earning loanees set to return.
Rabbi Matondo will return from Hannover 96 after a failure to reach the Bundesliga, with the Welsh winger failing to impress since moving to Rangers in 2022.
Jose Cifuentes will also return to Rangers despite impressing with Aris Thessaloniki, who are unwilling to meet the Gers’ asking price for the midfielder.
| Rangers loanee | Weekly wage | Yearly wage |
| Ben Davies | £27k | £1.4m |
| Kieran Dowell | £16k | £830k |
| Rabbi Matondo | £23k | £1.2m |
| Jose Cifuentes | £16k | £830k |
According to Salary Sport, the four players put a combined £4.26m annual burden on the Rangers wage bill (Davies – £1.4m, Dowell – £830k, Matondo – £1.2m, Cifuentes – £830k).
If the club is serious about rebuilding, that’s a figure which must be wiped in the weeks ahead and Kevin Thelwell will be judged on his ability to ship players out, just as much as bringing players in.
