By Kieran Maguire

21st Aug, 2021 | 7:00pm

Kieran Maguire makes '£11m' Rangers transfer reveal

Rangers owe £11million in outstanding transfer fees and must be cautious in their spending in the immediate future.

That is the view of finance expert Kieran Maguire, speaking exclusively to Football Insider about the Scottish champions’ financial outlook.

Rangers have yet signed just one player, Juninho Bacuna, on a fee-paying deal this summer while three more have joined on frees.

They posted a £15.9million loss in their last annual results and have been dumped out of the Champions League before the lucrative group stage.

And Maguire insists the Glasgow giants must also consider the impact of their transfer payment obligations going forward.

He told Football Insider correspondent Adam Williams: Since 2017, they have signed players for £40m but had only physically paid £29m in fees.

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“So there is an element of funding via instalment. That is peanuts compared to the Premier League. Man United, for instance, owe over £100m.

“But Rangers have annual revenues of £59m, so £11m is almost 20 per cent of their annual turnover. This means they have got to be cautious.

“I don’t see them having problems but their ability to spend more money is held back.

“It’s a bit like buying something on a credit card. Before you go and get something new, you have to make sure you pay your existing instalments.”

Rangers face Ross County in the Scottish Premiership on Sunday.

They have had a stuttering start to the season after losing three of their opening six games.

In other news, pundit tells Steven Gerrard to get 2018 signing off the wage bill as Rangers talks revealed.