It’s been a tough few weeks for fans of the blue side of Glasgow. Both on and off the park things don’t seem to be going well for Rangers Football Club.

Envious eyes of the Ibrox side are being cast across to the east end of the city where the exact opposite is taking place. For Gers fans, results have not been consistent since the beginning of the season and this past week has been the icing on the cake in terms of negative feelings surrounding the club.

Less than two weeks ago, Rangers found themselves in third place in the league, five points behind both Celtic and Aberdeen who were flying high and unbeaten in the league after eight games. On the Saturday Aberdeen travelled to Parkhead to take on Celtic in what was billed as the top-of-the-table clash. For Rangers who had a tough game at Rugby Park against Kilmarnock, were viewing this as a real opportunity to get themselves back into the title race discussion. Any result in the Parkhead clash would be to the benefit of Rangers and they would close the gap on at least one of the sides if they won the following day. Celtic and Aberdeen ended in a draw, so a win for the Gers would take them within three points of the top of the table. However, this was not to be the case as Rangers failed to rise to the challenge and dropped three points against Kilmarnock on Sunday, leaving them trailing in the league by six points.

Rangers responded well with a fantastic European result at home on Thursday and a return to winning ways in the league against St. Mirren. However, the latter was a largely criticised team performance with some fans saying the Buddies deserved more from the game. With both Celtic and Aberdeen winning, Rangers would head into a clash with the Dons at Pittodrie six points behind both teams.

As the week began feelings around the midweek clash were that the Dons were firm favourites as they remained unbeaten in the league as well as going toe to toe with Celtic only two games prior. The Ibrox side couldn’t afford any more negativepress in the lead-up to the game.

On Tuesday, the day before debatably a season-defining game for manager Philippe Clement the club posted a 33-page report on their annual accounts. In what was supposed to be a positive publication showing that for the first time in over a decade, they were free of any litigation claims.  But both pundits and fans alike people saw right through that with it ending up being a very telling set of financial losses. Despite record core revenue at £88.3 million, and £94.2million total income people were quick to focus on the £17.2 million net loss which had increased from £4.1 million the year before.This is due to the lack of significant player sales, the loss of Champions League money, and staff costs still being too high despite offloading a significant number of higher earners at the club this past summer. It leaves the club with just £1.7 million cash in the bank.

Interim Chairman John Gilligan stated,

“Undoubtedly, it has been a challenging period for the football club with significant change occurring both on and off the park throughout both season 2023/24 and over the summer months”.

The feeling of negativity both on the pitch and the ongoing higher up in the club led the team into a clash with Aberdeen being even more important for the Gers community. Jimmy Thelin’s Dons rose to the occasion in what was an incredibly well-deserved 2-1 win under the backdrop of an atmosphere not seen at the club for decades. After Celtic winning at Parkhead against Dundee, Rangers now find themselves nine points behind Celtic and Aberdeen.

Shortly after the result, Philippe Clement described it as ‘One of their best performances of the season’ which was met with a lot of confusion and anger from Gers fans across the country.

Casting our minds back to less than two months ago their Glasgow rivals, Celtic published their annual report which showed when all things calculated, they have £77.2 million in the bank. This is a staggering £75.5 million more than the Ibrox side. Compared to their city rivals the Parkhead side recorded a new club record revenue of £124.6 million with a total net profit of £13.3 million as well as breaking their breaking club transfer record twice over this past summer. All this despite almost a £5 million deficit in the transfer market and their overall wage bill increasing by £4.8 million making it a total £65.6 million. So not only are Celtic well ahead on the park they are in a much healthier position financially.

For fans of the Ibrox side results on the pitch and position in the league coupled with how well their rivals are doing compared to themselves have increased the negative feelings around the club. It has now led to Gers fans overwhelmingly united in their opinion that things are not heading in the right direction under manager Philippe Clement, wanting him relieved of his position.

This past August before the season had begun Clement was given a new four-year contract and commented:

“I have fallen in love with the club, with the fans, the stadium and with the city. I see huge potential and now we need to make the club better and stronger in every department.”

But, with all the financial losses coming out of the club and given that he would need to be paid off, can they afford to remove him from his duties?

The current situation and gap created go back decades. Celtic went close to going out of business in 1994 and since then have set up a successful financial model that may be negative for the growth and standard of the Scottish game by buying cheap and selling large. But it works for them from a financial point of view.

In reaction to their annual report, Celtic Chief Executive Peter Lawell said:

“Our strategy has been crucial to the domestic success of recent years, and it is one your Board intends to maintain.”.

Rangers are on the other side of the coin and after going into administration, and subsequently liquidated in 2012, therehave been a series of poor financial decisions big and small, from court cases to not following Celtic’s model of selling their prized assets when their price tag is at their highest.

A huge few weeks lie ahead for the Ibrox side, with Champions League qualification slipping away the club hassome big decisions to make. If they sack the manager, it’s a huge financial risk but can they also afford to let results on the pitch continue as it is? With a Scottish League Cup Semi-Final clash against Motherwell this Sunday, there’s a chance of making the first cup final of the season.