Revealed: Rangers PR puts Michael Stewart in his place as Jim White shares new transfer details
Rangers have put Michael Stewart in his place by letting it be known the Ianis Hagi deal is far cheaper than he claimed and will be spread out over multiple accounting periods.
The BBC Sport pundit took to Twitter on Friday to question how the Glasgow giants could afford to splash out “£5million” on the Romania international given apparent financial restrictions.
Football Insider has been told by Ibrox sources that the Rangers PR machine – led by proactive director of communications David Graham since March – has let it be known to the media the nearly-complete Hagi deal will actually cost £3million.
I see some media reporting that Rangers are closing in on a £5m signing of Hagi. Can anyone explain how the club lost £11m, was needing £10m to see the season out, then Coronavirus hit and has deferred huge amounts in wages but can be linked with a £5m signing?
— Michael Stewart (@mstewart_23) May 22, 2020
Furthermore, in a highly unusual move, correspondents such as Sky Sports and talkSPORT transfer guru Jim White have been told the payments will be split over three years.
Ianis Hagi set to join @RangersFC in £3m deal. Payments will be split over three years.
— Jim White (@JimWhite) May 26, 2020
This is a clear riposte from the top of the club to Stewart and other critics baffled at a multi-million pound signing given the Rangers wage deferral due to the Covid-19 pandemic, the costs borne by the early termination of the season and the £11.3m loss posted in the club’s last set of accounts.
Football Insider revealed last Friday the club are well placed to afford Hagi after being boosted by the new club-record kit deal and imminent Europa League windfall.
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As subsequently reported by White, this site explained the payments would be staggered across different times and accounting periods, not uncommon for multi-million pound transfers.
Rangers’ revenues rocketed by £20.6m to £53.2m for the year ending 30 June 2019, a 63 per cent increase.
Before the mid-March lockdown that squeezed football finances everywhere, the club were well on course to beat that.
They were midway through a round-of-16 Europa League tie before the season termination, with European revenues for the season on course to rake in more than £20m.
In other Rangers news, it can be REVEALED the task the club face to sign lifelong Ger who Kris Boyd claims can stop Celtic winning next season’s title.