Rangers accounts: Why Ibrox club has lost £17m, BIG conference with Celtic and how figures can get BETTER

Rangers FC Faces Financial Challenges: A £17m Loss and Key Issues to Address

Rangers FC’s recently released accounts for the period ending June 30, 2024, reveal a £17.17m loss, a significant increase from the previous year’s £4.14m deficit. Despite record core revenue of £88.3m and commercial revenue of £67m, the club’s financial health remains a concern.

Comparison with Celtic

The contrast with Celtic FC’s financial situation is striking. Celtic posted a £17.8m profit for the same period, highlighting the gulf between the two Glasgow clubs.

Key Factors Contributing to the Loss

1. Player trading deficit: £7.9m, largely due to unsuccessful transfers.
2. Lack of Champions League revenue: A £25-30m gap compared to Celtic.
3. Pay-offs for former management teams and staff.
4. One-off litigation payment.

Way Forward

To improve finances, Rangers must:

1. Enhance player trading: Identify valuable young players with potential sell-on value.
2. Achieve success on the pitch: Secure European qualification and domestic success.
3. Manage costs: Continue working within UEFA’s financial framework.
4. Explore external investment: Potential cash injections from investors like Billy Walker.

Current Challenges

1. Pressure to perform in the Premiership: Six points behind leaders Celtic and Aberdeen.
2. Limited cash reserves: £1.76m, down from £5.33m.
3. Dependence on investor funding.

Positives

1. Record core revenue: £88.3m.
2. Increased gate revenue: £43.7m.
3. Managed cost increases: Only 1%.

Conclusion

Rangers FC’s financial situation demands attention. The club must address key issues, including player trading, European revenue, and cost management. Swift progress is essential to bridge the financial gap with Celtic and ensure long-term stability.