Kieran Maguire makes Rangers transfer claim after club-record £19.6m reveal
Rangers are starting to make progress on their player trading model after posting revenue of £84million in 2022/23.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the latest financial figures emerging from Ibrox.
Rangers released their annual report for the 2022/23 season on Monday, revealing revenue of £84million but a profit of just £252,000.
The club’s participation in the Champions League helped to bring in additional payments from Uefa, but their poor results in the group stage meant they only matched the income received from their Europa League run in 2021/22.
Calvin Bassey’s move to Ajax also boosted income with Rangers receiving a club-record fee of £19.6million for the defender.
Maguire believes the Scottish giants are starting to see some financial success from their player trading model, but an underwhelming summer window this year means revenue will likely drop again in 2023/24.
” I don’t think Rangers need to be too concerned about their profit levels,” Maguire told Football Insider’s Sean Fisher.
“I think it shows the challenge of running a football club.
“Rangers’ wage bill was higher than that of Celtic last season, which I think will surprise many people.
“It would have been higher still if they had more on-pitch success.
“What we are seeing at Rangers is that they are starting to make progress with their player trading model.
“They sold Calvin Bassey for a club-record fee and made a profit in the transfer window, but those figures have not been replicated in 2023/24.
“So I suspect that their results this year will be worse unless they make a lot of progress in the Europa League.
“Given that they sell out Ibrox every match, that would boost their income.“
In other news, £26m Rangers transfer news is officially confirmed