Kieran Maguire issues ‘certain’ Rangers finance verdict after unprecedented Geneva meeting
The Rangers accounting department will not struggle to adapt to UEFA’s new spending regulations.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the latest news from behind the scenes at the European Club Association, the collective of teams of which Rangers are a member.
The ECA announced last Thursday (10 November) that they would hold their first-ever financial sustainability workshop in Geneva on Tuesday (15 November) and Wednesday (16 November).
It is not known which clubs attended the summit which was chiefly aimed at bringing clubs up to speed with the specifics of UEFA’s new regulatory framework designed to replace the Financial Fair Play system.
The new controls, which are being phased in from this season, limit clubs to spending 70 per cent of annual turnover on wages, transfer and agents’ fees.
Maguire claims that Rangers
“As far as the new financial regulations coming from Uefa are concerned, Rangers should be okay,” he told Football Insider’s Adam Williams.
“The caveat is that they have to keep qualifying for Europe. I think it is pretty certain that they will do that.
“They are in a relatively strong position as far the 90 per cent, 80 per cent, and then 70 per cent wages-to-revenue ratio is concerned.
“The club has reasonable cost control. It would have satisfied the rules last season, for example. That is the case even with the 70 per cent iteration, which is being tapered in.
“So, I don’t envisage huge problems from Rangers’ point of view provided they continue to generate sums from Europe.
“That money has a disproportionately large impact on the club’s overall revenues given the relatively modest sums made from Scottish TV deals.“
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