Rangers’ profits this season are non-existent, that much we already know. But a Premiership profit table shows the club are worryingly adrift at the bottom.
Rangers are one of just four clubs in the Premiership to have posted a loss this year. The others were Motherwell, Dundee, and Aberdeen respectively. Rangers, however, sit bottom with a £14.3million loss.
These figures were released by the club officially three weeks ago. Highly-respected number crunchers, Swiss Ramble, have released a table detailing just how far behind Rangers are from the rest in terms of profitability.
Given Hearts stadium investment, they did well to deliver the second largest profit in the SPFL Premiership with their £1.8m only beaten by Celtic £15.4m. That said, 8 of the 12 clubs in the Scottish top flight make money with only Rangers reporting a sizeable £14.3m loss #hmfc pic.twitter.com/FhnfO2JTpa
— Swiss Ramble (@SwissRamble) November 19, 2018
The numbers come from the outlay spent on Pedro Caixinha’s disastrous summer transfer window of 2017. The Portuguese formed a squad full of unknown recruits who just didn’t blend. In the end, Rangers had to pay him off after sacking him before the end of the calendar year.
Signing up Steven Gerrard as well as the spending on his transfer plans have also contributed to the losses. In a way, it’s a case of speculating to accumulate by Rangers. They’ll be hoping to post a much better return next season, which their Europa League run should help with.
The club have also spent money on upgrading their stadium facilities. More work is set to be done with the youth academy and the match-day experience for supporters.
Better figures a must
Rangers, however, have to start publishing better figures in order to give their supporters piece of mind. Despite the small print, an over £14m loss remains an over £14m loss.
Up the other end of the table, rivals Celtic posted profit figures of £15,4million. This is largely down to their competing in the Champions League from last season.
That shows the importance of bringing top-tier European football back to Ibrox. Despite the fact their rivals have largely been embarrassed in he competition, they’re in a good place now financially.
Rangers are still looking to bring financial stability to the club permanently. Only through consistent qualification for the Champions League can the club do that, however.
That’s why the club are outlaying so much on the Gerrard regime. A huge desire to topple Celtic and win the Premiership would be sensational for supporters. But it would mean just as much financially as it would give Gers the chance to tackle those tasty Champions League qualifiers.
That has to be he main goal for the club, and Gerrard has to be the main to take them there. Too much money has been spent for that not to be the case.