Rangers are ‘stuck’ after official Ibrox paperwork filed – Stefan Borson
Rangers are currently “stuck” in terms of their financial situation after revealing their latest accounts for 2023-24.
That is the view of finance expert Stefan Borson, who exclusively told Football Insider it’s difficult to see how they can change their situation materially as they look to compete with Celtic.
The Scottish giants released their accounts for 2023-24 on 29 October, revealing their core revenue increased from £83.8million in 2022-23 to a record-breaking £88.3million and total income of £94.2million.
That is still significantly lower than Celtic earned throughout the year as their revenue rose from £119.9million to a new club-record £124.6million.
Rangers’ net losses increased by £4.1million to £17.2million in 2023-24, but they did manage to cut their overall staff wage bill from £64million in 2022-23 to £61.1million last season.
Rangers can do little to change their financial situation
Borson believes there is little the Glasgow side can do to bring down their operating costs in a bid to strengthen their financial situation at Ibrox.
“Rangers have got a good revenue coming in from European prize money,” Borson told Football Insider.
“But they have got almost nothing coming from domestic broadcast and they have got fairly modest commercial agreements.
“They have also got a wage bill that’s commensurate with a European qualifying team.
“It’s hard to see how it changes materially.
“There is not a lot they can do on other operating costs.
“If you have got £43million of matchday income, you have got some pretty substantial costs on the stadium side and the operating costs of the club.
“If you are going to compete with Celtic, you are going to need a wage bill around about £60million.
“They are a little bit stuck at the moment.”
In other news, Rangers fans all say same thing about Philippe Clement sacking.
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