Rangers blown away by £250m Celtic reveal – ‘The trend is awful’
Celtic have continued to perform better than Rangers financially over the past few years.
Celtic posted a new club-record revenue in 2024-25 after their turnover increased from £124.6million in 2023-24 to £143.6m.
Meanwhile, Celtic recorded a £33.9m profit after tax and went into the latest summer transfer window with £77.3m of cash assets.
Rangers also generated a record revenue, with their turnover improving from £88.3m to £94.1m at Ibrox.
Meanwhile, Rangers’ losses dropped slightly from £17.2m to £14.8m last season and their cash balance increased from £1.7m to £30.5m across the same period.
Rangers in ‘difficult’ position after accounts analysed
Former Man City financial adviser Stefan Borson exclusively told Football Insider there is a £250m difference between what Celtic and Rangers have earned over the past 10 years.
Celtic banked around £20m more than Rangers in Europe last season, having reached the knock-out round play-offs of the Champions League.
Speaking exclusively to Football Insider about Rangers’ latest accounts, Borson said: “So much of the numbers and the difference between the two clubs comes down to what you’re doing in Uefa competition.
“Rangers in terms of the sort of headline wasn’t a bad season. Turnover wise, it was up 7 per cent. Gate receipts were broadly in line. Broadcast was broadly in line, so they drove actually quite a substantial increase in commercial revenue.
“On the face of it, it wasn’t a terrible performance. Look, Rangers are clearly in a difficult position right now, and it’s just going to take time for it to wash through.”
Rangers’ new owners injected £20m after completing their takeover in May, providing the club’s coffers with a significant boost.
Celtic are increasing the financial gap over Rangers
Rangers made a £600,000 loss on player sales last season, while Celtic recorded a £31.5m profit.
“Rangers are not making anywhere near enough money on player sales,” said Borson.
“The club consistently loses money. Most clubs do. The gap is not good with Celtic. Now, whether that’s about performance financially or player sales, the trend is awful. If you look at it on a profit basis, year on year the gap between Celtic and Rangers is getting more significant each year.
“On a 10-year basis, there’s a £250m difference. Over 10 years, Celtic have made the best part of £150m and Rangers have lost the best part of £115m, so there’s this £250m difference. That obviously is a big issue because it compounds over time.”
Meanwhile, Celtic continue to pay their players higher wages, with their wage bill rising from £65.6m to £74.8m after claiming a fourth Scottish Premiership title in a row.
Rangers, who finished second in the table, saw their wage bill fall from £61.2m to £57.8m last season.
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