Rangers Football Club recently released its financial accounts for June 2023 to June 2024, and while there are some promising signs, key challenges remain. The club posted record figures in several revenue categories: £88.3 million in core revenue, £94.2 million in total income, and £67 million in commercial revenue. However, despite these record earnings, Rangers recorded a £17.17 million loss, a significant downturn compared to the previous year’s £4.14 million loss. In contrast, Celtic posted a £17.8 million profit for the same period, highlighting a widening financial gap between the two clubs.
Rangers face internal challenges as well, operating without a chief executive since James Bisgrove’s departure and an interim chairman following John Bennett’s resignation. Delays to construction on the Ibrox Copland Stand and a recent shift to Hampden Park also contributed to operational difficulties.
On the pitch, the club has struggled with player trading, posting a £7.9 million deficit despite sales of players like Glen Kamara and Antonio Colak. New signings, including Cyriel Dessers and Danilo, haven’t provided the hoped-for returns, with injuries and mixed performances affecting team stability. A lack of high-value player sales, unlike previous years with Calvin Bassey or Nathan Patterson, continues to weigh on the club’s finances.
Rangers have also missed Champions League revenue for the last two seasons due to play-off defeats, further increasing the financial strain compared to Celtic, who have benefited from the tournament’s group-stage earnings.
With current cash reserves at £1.76 million, the club remains dependent on investors and must rely on successful player trading and improved on-field performance to stabilize its financial future. As Rangers trail Celtic and Aberdeen by six points, every match now holds high stakes for the team’s financial and competitive outlook.
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