Rangers are ‘burning money’ as official documents emerge – Stefan Borson
Rangers have struggled to keep pace with rivals Celtic both financially and on the pitch in the Scottish Premiership in recent seasons.
Manager Philippe Clement was sacked at Ibrox on Sunday (23 February) with the Gers 13 points adrift in second place and losing 2-0 against St Mirren in their most recent fixture.
Rangers reported a £17.2million loss for the 2023-24 season back in October of last year – with Celtic posting a profit of £17.8million for the same period.
The Ibrox club are the subject of takeover interest from 49ers Enterprises – who own English Championship side Leeds United.
Rangers share issue won’t be the last this season, says Borson
But in the meantime, Football Insider revealed on 19 February that Rangers have received a £3.6million injection from their current owners in the form of a new share issue.
As per official documents from Companies House, holding company Rangers International Football Club PLC has issued 18 million shares at 20 pence per share.
Former Man City financial adviser Stefan Borson exclusively told Football Insider that the share issue will have been needed to fund day-to-day operations at Ibrox.
He claimed Rangers have a choice – borrow money or raise cash via their shareholders.
| Season | Profit / Loss (£) |
| 2023-24 | 17.2million loss |
| 2022-23 | 3.1million loss |
| 2021-22 | 3.5million loss |
| 2020-21 | 25.6million loss |
Borson told Football Insider: “They’re loss-making, so they just have to keep putting money in.
“I think they did something similar before Christmas, so you can expect a number of share issues throughout the year.
“Ultimately, you have to pay people’s wages. If you’re a loss-making club, burning money, you’ve got no choice.
“Either you borrow the money or the shareholders have to put their hand in their pocket.
“You’ll see continued share issues at Rangers over time. The only question is whether this potential 49ers deal can happen.”
Sean Dyche backed to succeed Clement at Rangers
Former Everton and Aberdeen CEO Keith Wyness has told Football Insider (21 February) that Sean Dyche would be the perfect replacement for Clement at Rangers.
He claimed Dyche’s style would suit the Gers as they “don’t have the greatest array of talent in their squad”.
The Englishman was sacked at Everton last month after leading them to Premier League safety in the 2022-23 and 2023-24 campaigns.
For more Rangers and exclusive news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.