Rangers recorded a £17.2million loss despite “record-breaking revenues.”
Rangers Football Club has announced its freedom from all legal claims for the first time in over a decade. Despite this milestone, the club reported a significant net loss of £17.2m this financial year, a sharp increase from last year’s £4.1m deficit, though it achieved record-breaking revenue and income up to June. Earlier this year, the club settled a longstanding dispute with Elite Sports Group Ltd over their Hummel-branded kits. Financial records highlight substantial growth, with core revenue reaching £88.3m, total income at £94.2m, and commercial revenue of £67m—figures Chief Financial Officer James Taylor called “outstanding.” Operating losses before accounting for player trading came in at £2m, a marked improvement from last season’s £10.5m. The financial hit reflects the restructuring of the first-team squad, including a reported £8m loss from player trading. Rangers also reduced overall squad expenses by £2.5m and expect further cuts of £6m next season following summer 2024 transfers. Under a revamped recruitment strategy introduced by Football Recruitment Director Nils Koppen, Rangers is prioritising a younger, more balanced squad. Transfer expenses reached £13.6m, offset by £5.6m in player sales, with the club aiming for a sustainable transfer model. In the face of growing financial pressures, Rangers raised its borrowing from £16.5m to £28.4m, securing an additional £8.6m from existing investors to support future growth. Interim Chairman John Gilligan acknowledged the transformative period at Rangers, noting that John Bennett stepped down from his chairman duties to focus on his health, while Chief Executive James Bisgrove moved to the Saudi Premier League, and Creag Robertson departed as Director of Football Operations. Gilligan assured supporters of a strong executive team in place, as they look for a new CEO. Gilligan also apologised for delays in the Copland Road Stand renovations, which required four matches to be relocated to Hampden Park, and commended the fans for their exceptional support. He expressed confidence that the club is on track to meet its strategic objectives after a challenging yet productive year.
Look Ahead – Ross County v Hibernian
Fresh off the back of a pulsating Edinburgh Derby and a hard-fought comeback win against Kilmarnock, Ross County will entertain Hibernian on Wednesday night, a match seen as a must-win for the Edinburgh side. Ross County produced a battling display in coming from behind on Saturday and claiming all 3 points at the hands of Kilmarnock. Don Cowie will look for consistency as they won their first game in the league since August. George Harmon is still out injured for the Staggies, but Elijah Campbell is in line for a return after missing Saturday’s game through suspension. Turning their attention to Hibernian, defender James Brown spoke to the media ahead of Wednesday’s crunch fixture. Brown spoke about the importance of bouncing back with a win and carrying that forward. “It’s all about consistency now, we have to try build on that, get consistent wins. We can’t be up and down; we need solid form, and hopefully, we can do that Wednesday.” Hibs are currently rooted to the bottom of the table and take on a County side who boast one of the best home records in the league. To stand a chance at climbing off the bottom, Gray must take his men and do what only the SPFL’s top two sides have done this season and take all 3 points. David Gray will be without Kieron Bowie, who is still considered a long-term injury but will be boosted by the return of club captain Joe Newell, who missed Sunday’s derby through suspension. Both Nicky and Chris Cadden are expected to undergo late fitness tests as they look to come back into the squad. Kickoff is 19:45 and there is a PPV option to watch the game on the Ross County website.
St Mirren’s Future Looks Bright: Contract Extensions for Robinson, Kiltie, and Fraser!
With news that St Mirren manager Stephen Robinson penned a contract extension until 2027. Players Greg Kiltie and Marcus Fraser have now pledged their immediate future with the club. Kiltie, who signed for St Mirren from Kilmarnock in 2021 has been a mainstay in the Paisley side ever since. A firm fans favourite, the dynamic and creative midfielder has been a joy to watch for the Buddies faithful and they will be more than happy to see their number 11 sign a 2 year extension. Hoping to be past his recent injury woes, the deal keeps him at the club until 2027 and he stated: “I’m delighted to get the deal done. I’ve loved my time here, hopefully being back fit now I can contribute as much as I did last year.” Amongst his admirers is his boss Stephen Robinson who openly admits the player has been a huge miss for his side over the last few months but is glad to see him back in action: “We’ve missed his quality and football intelligence since he’s been injured. He’s a big part of what we have achieved over the last two years” Another good piece of business by the Paisley side includes vice-captain Marcus Fraser also signing on the dotted line for another 2 years. The former Ross County captain, signed by Jim Goodwin for the Buddies in 2020 has been a stable feature of St Mirren’s defensive line since arriving from the Dingwall outfit. The 30 year old is quickly approaching his 200th appearance for the club, making 191 in his 4 years at the club and could activate a further year on appearance based terms come the end of his new deal. Upon his extension, the defender commented: “Personally, family life, we’re happy and I’m settled here. I’ve got a good relationship with the manager and I hope he knows I like to work hard and lead by example in training. He has been brilliant for me and the trust he puts in myself, I just try to repay that by working hard in training and on the pitch” The St Mirren fan base will be patiently waiting on more positive contract news with defender Richard Taylor and forward Toyosi Olusanya both been offered new deals. Buddies gaffer Robinson hopes to get these over the line in the near future stating: “They are both very happy to be at the football club and if they don’t sign I know they will give absolutely everything. I’m sure they are getting a lot of interest with their performances, but we are doing our very best to keep them here and we are desperate to keep them here”