Revealed: Rangers have lost £111m as paperwork filed
Rangers holding company The Rangers Football Club Limited have lost nearly £111million in the last decade, Football Insider analysis shows.
The group released its accounts for the 2021-22 financial year last Thursday (6 April), presenting a £3.5m loss on record turnover of £82.7m.
That is down significantly on the £25.6m shortfall they posted the previous annuum, which was the worst deficit since the club reformed with a new company structure in 2012.
Meanwhile, their operating profit – total income from core business activities before taxes and interest are deducted -for the financial year was £4.1m.
The financial results are distinct from The Rangers International Football Club PLC, the subsidiary that turned an operating profit of £5.9m for 2021-22.
The accounts were for a season that saw Rangers reach the Europa League final, where they were beaten on penalties by Eintracht Frankfurt.
That run alone saw the Glasgow giants bank £21m, which supplemented record commercial and matchday income of £20m and £42m respectively.
Their player trading profit for the campaign was £11.2m, thanks to the sale of academy graduate Nathan Patterson to Everton in January last year.
The departures of Calvin Bassey, Joe Aribo and Cedric Itten for a combined total of around £28m will register in next year’s accounts.
Rangers also received £4.25m in compensation as manager Steven Gerrard left for Aston Villa in November 2021, although that was offset by a £6m legal settlement with Sports Direct’s Mike Ashley
The 2021-22 season was the last full financial year overseen by Douglas Park, who was replaced as chairman in the Rangers boardroom by John Bennett earlier this month.
In other news, second Rangers man could now follow Ross Wilson to Nottingham Forest