Rangers news: Finance expert responds to multi-million plan to overhaul Celtic
Rangers’ intentions to expand Ibrox need to happen soon to help the club financially in the long-term.
That is according to football finance expert Dr Dan Plumley who exclusively told Football Insider his views on Rangers’ plans to add 4,000 extra seats to Ibrox.
Rangers could earn £4million in extra revenue should expansion plans come to fruition, with Ibrox currently holding just over 50,000 spectators.
The Glasgow club were taken over by a US-based consortium in the summer, but the price of adding those extra seats could prove expensive.
Rangers’ finances ‘swing’ on Champions League qualification
Speaking exclusively to Football Insider, Plumley states that whilst expanding Ibrox is important, qualifying consistently for the Champions League is also financially pivotal for Rangers.
“I think it’s probably just a natural necessity for Rangers to do this at some point,” Plumley said.
“You know, we talked about all the clubs, you know, stadium expansion is a way forward and we know that Rangers could build that demand. They obviously look at that and see it as a viable option.
“So it has benefits all around and I think at some point, your biggest clubs have to do it. That’s the reality of football.
“In terms of them and Celtic and we talk about this a lot. I think a lot of it does sometimes also swing on if one comes in the Champions League and one’s not or whether a club has a good run in Europe and the other doesn’t.
“But I just think it’s something that they’ve looked at and gone well, you know, we’ve got to do it, and that extra 4,000 seats can generate a significant proportion of money.
“And you would imagine maybe some of that is hospitality or they might look at that from a corporate angle as well.
“So it makes perfect sense, but I don’t think it’s drastic stations that need to be done to catch Celtic.
“I think that will to and fro depending on league position and European qualification.”
Rangers behind Celtic in latest financial accounts
Rangers’ revenue increased in their latest set of financial accounts, and the club also managed to reduce their wage bill.
Celtic though are still the most financially dominant club in Scotland, with their revenue also increasing, which was enhanced by a run to the knockout stages of the Champions League.
Failure to qualify for this season’s Champions League has hit Celtic financially, with them and Rangers both competing in the Europa League this campaign.