Kieran Maguire lauds 'amazing' Rangers as £16m commercial boost revealed
Rangers have been “amazing” commercially in recent times and seen their income skyrocket by £16million over the past four years.
That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively as Rangers announced the renewal of their deal with 32Red.
The front-of-shirt sponsor signed a multi-year agreement and is the latest in a long line of commercial triumphs at Ibrox in 2020-21.
As well as 32Red, Lucozade Sport, Fortrade, Bitci Technology and NordVPN have all joined in the last six months alone.
It has been over a year since fans watched Rangers at Ibrox and the club has had to lean heavily on non-matchday income as a result.
Maguire highlighted a huge spike in commercial income and lauded the club’s decision-makers for diversifying their revenues streams.
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“They have been amazing commercially over the past year or so,” he told Football Insider correspondent Adam Williams.
“If we take a look at Rangers’ non-matchday, non-broadcast income we can see that writ large.
“It’s gone from £4m in 2017 to £20m in 2020. So they have doubled their profits in that area.
“To do that, especially when there were Covid issues in 2019-20, is indicative that they’ve got people with their heads screwed on at Ibrox.”
In their latest commercial venture, Rangers announced the opening of a retail store in Belfast, Northern Ireland.
The club will also open a new on-site museum to commemorate its 150th anniversary in 2022.