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Rangers flagged by finance expert for ignoring Scottish football 'rule' as sobering Celtic discrepancy laid bare
A leading football finance expert has lamented Rangers' inability to "run a tight ship" like their Scottish Premiership rivals as he seized upon the club's sobering £17.2m pre-tax loss.
The Swiss Ramble has pored over financial results which were rounded on by concerned onlookers when they were released last month. And his biggest concern centres around the size of the loss compared to their peers. Rangers' losses were £13m more than second worst Hearts – who aim to arrest their £4.4m deficit.
The revered expert underlined the scale of the task they face in unseating Celtic as the dominant force in Scottish football as he pointed to Celtic's iron-clad £17.8m profit which leaves an eye-watering £35m difference between the fierce Premiership rivals. Rangers interim chairman John Gilligan is attempting to offer stability, however, fans’ concerns have escalated with Philippe Clement's side sitting nine points adrift of Celtic and Aberdeen.
Both the club and manager have hinted at a correction at Ibrox to move on from older players and usher in a new era of younger talent. And that has been noted by the Swiss Ramble. He said: "Rangers are clearly making efforts to get their cost base under control, as wages reduced by £3m (4%) from £64m to £61m, while player amortisation fell £2m (14%) to £11m. However, they did book £2.9m player impairment, while other expenses climbed £4m (13%) to £32m."
The under-fire board and Clement will meet their public at the club's AGM on Thursday, December 5 with shareholders demanding answers over a litany of outstanding questions. Those who bleed Light Blue want answers on the direction of the club, who the next permanent chairman will be and when will James Bisgrove's CEO role be filled.
