Rangers have landed ‘incredible’ windfall after £40m+ Ibrox reveal – Borson
Rangers have recorded “incredible” figures for their matchday revenue after releasing their latest accounts for 2023-24.
That is the view of finance expert Stefan Borson, who exclusively told Football Insider the problem facing the Scottish giants is the money they receive from domestic broadcast is “almost worthless”.
Rangers 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.
The Glasgow side’s net losses increased by £4.1million to £17.2million, but they did manage to cut their overall staff wage bill from £64million in 2022-23 to £61.1million last season.
Rangers’ matchday revenue also rose from £39.9million to £43.8million across the year.
Rangers face challenges due to limited domestic broadcast revenue
Borson revealed that figure is almost four times the amount some English Premier League sides are bringing in.
“The challenges they face are not new,” Borson told Football Insider.
“The thing about Rangers is you’ve got incredible matchday revenue.
“They had £40million in 2023 and £43million last season.
“Crystal Palace’s matchday in the Premier League is £12million, so Rangers are doing almost four times what some of the smaller London teams are doing on matchday.
“The £43million is really a very significant chunk of revenue and then laid on top of that they had the Europa League last season and also this season, so they do quite well from those two elements.
“The problems start to kick in firstly in terms of domestic broadcast, which is almost worthless.
“It’s about £6million versus domestic English revenue of about £150million minimum. It’s just worlds apart.
“No English Premier League team did less than their total revenue for that last season so that just shows the scale of the challenge that Rangers have got compared to the Premier League.”
In other news, Rangers get extra £2.9million as new Ibrox paperwork filed.
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