By Frank McAvennie

3rd Dec, 2020 | 4:00pm

'It's Incredible' -Exclusive: Pundit reacts to £15.9m Rangers reveal

The Rangers board have been vindicated for spending big on new talent in the summer.

That is according to former Celtic and St Mirren striker Frank McAvennie, speaking exclusively to Football Insider correspondent Dylan Childs about the Light Blues posting losses of £15.9million for the year ending June 2020.

The Gers spent just over £10million on transfers in the summer window – Kemar Roofe, Ianis Hagi and Cedric Itten all joining in multi-million pound deals.

In a difficult year for club’s across the world amid the coronavirus pandemic, Rangers’ revenue rose by 11 per cent on the previous year to £59million.

An unbeaten start to the season has left Steven Gerrard’s side 11 points clear at the top of the Scottish Premiership and on the brink of qualification for the Europa League knockout stages.

When asked by Football Insider for his thoughts on the Gers’ accounts in relation to the their start to the campaign, McAvennie said:

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“The decision to spend in the summer has been justified by their start to the season.

“Rangers spent a lot of money and Steven Gerrard has been given the backing of the board and it is great.

“Let’s not forget that a lot of these players have been frees, or £40-50,000 signings. It’s incredible.

“I would not be too worried about the balance sheet, I know the players certainly will not be, they will just concentrate on matters on the field.”

In other Rangers news, pundit wowed by major Ibrox development – ‘This is great for the fans’.