Kieran Maguire makes intriguing Rangers Champions League verdict after director cash reveal
Champions League revenue is absolutely essential to the next stage in Rangers’ financial development.
That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively about Ibrox director John Bennet’s recent interview comments.
“We’re making this bridge from a recovery phase to a growth phase,” he told the Louden Tavern Podcast on 25 May.
The club was liquidated and reformed in 2012 and wrestled back the Scottish Premiership crown from Celtic for the first time in nine years last season.
Maguire explained the practical steps Rangers must make as they move from a “recovery” to a “growth” phase.
He told Football Insider correspondent Adam Williams: “Rangers were in a poor financial position in 2012 when the issues happened with the club.
Subscribe to Football Insider TV now
“It really was a case of using money from shareholders and directors as a means of keeping the ship afloat, i.e. allowing Rangers to recover by going through the divisions.
“Now they’ve given Steven Gerrard sufficient funds to have a real go at the Premiership, which he has achieved.
“Now, Rangers are in a position where their main ambition is to get to the group stages of the Champions League where the club can evolve and grow its revenues.
“If we take a look at Rangers’ accounts in 2013, they had £19million in revenue. That’s gone up to £59m in 2020.
“So they had a huge drop and they broadly managed to get back to where they were at the start of the decade and now they want to push on.
“They know there is a limited amount of domestic revenue that they can generate so therefore they’ve got to look at it from a European point of view.”