By Kieran Maguire

8th Nov, 2021 | 1:47pm

Kieran Maguire hails 'good news' after £24m Rangers reveal

Rangers fans have been integral to keeping the club afloat during the pandemic.

That is the view of finance expert Kieran Maguire, speaking exclusively to Football Insider about Rangers’ recently-released annual report.

The Scottish champions posted a loss of £23.5million for the year ending June 2021, as per the 64-page document published on 5 November.

In the preamble to the balance sheet, the club wrote that the pandemic’s impact on revenue over the title-winning season was “in excess of £20m”.

The closure of stadia for the 2020-21 campaign stripped hundreds of clubs of their main income driver and had a cataclysmic effect on finances.

But the loyalty of Rangers fans has ensured that the club was able to avoid the worst, claims Maguire.

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“The figures are broadly in line with expectation,” he told Football Insider correspondent Adam Williams.

“The good news from Rangers’ point of view is that they were still able to generate money from matchday income.

“There was an arrangement with Sky that, if you were a season ticket holder, you could watch the matches through a streaming service.

“The big issue with Rangers is that the previous season, matchday income was 60 per cent of the total.

“If they had lost all of that, it would have hit them quite hard. But their fans are superb and were desperate to see their team.

“If their financial circumstances allowed them, they wanted to put the club in as strong a position as possible to achieve ’55.

“I don’t think there would be too many grumbles from fans off the back of that.”

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