Revealed: Rangers on course to make ‘phenomenal’ £70m announcement
Rangers are well on course to announce revenues of up to £70million for the current campaign, Football Insider understands.
The Glasgow posted a £47.7m turnover in December last year in their latest set of financial results for the period covering the 2020-21 Covid-hit season.
That was nearly £12m down on the £59m generated in 2019-20 when they reached the Europa League last-16.
Analysis from Football Insider has found that revenues are in line to soar towards the £70m mark for the 2021-22 campaign.
In the context of the club’s modern history, that would be a relatively “phenomenal” sum, sources say.
The final figure will depend upon how many matches Rangers play at home and, most significantly, how far they progress in the moneyspinning Europa League.
The Scottish club are already in line for a £20m-plus bounty from their European exploits this season and that will increase if they go beyond the quarter-final stage.
Rangers are preparing for the last eight of the Europa League, where they will be pitted against Portugese outfit Braga in a double-header next month.
The Europa League has proved very lucrative during the last four seasons and been critical to the club’s balance sheet as well as their ability to attract new players.
The return this season of bumper crowds at 50,000-capacity Ibrox means Rangers should comfortably surpass their 2019-20 European earnings of £20.7m from the competition.
What the final sum will be depends on their progress in the knockout stages.
European competition provides the gateway for a massive spike in revenues for Scottish clubs.
As noted in their accounts, Rangers are reliant on funding from directors to sustain losses, with player sales combined with Champions League football expected to be needed to make a profit.
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