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On the cusp, very close to it- Stewart Robertson confirms the financial miracle as RIFC move towards self sustaining

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Stewart Robertson told shareholders in The Rangers International Football Club how they are ‘very close to being there’ in terms of being financially sustainable.

Critically no date was given as losses of £23.5m on a turnover of £47.5m was glossed over with four batches of new shares issued already this season to repay loans.

It seems that a few token questions were asked about the financing of the club, since July 2020 Kemar Roofe and John Lundstram have been added to the wage bill with both players believed to be earning at least £40,000 per week.

Everyone can be confident about the financial future of the club. Last season we talked about the four pillars of the club which are seasonal revenue from season tickets and hospitality which is fantastic as without that support, particularly last year with Covid, it was invaluable.

Then there’s the commercial revenues which is growing. We also have European income and we’re Rangers and we should be regularly getting to the group stage and beyond in European football. That’s what we budget on and that’s been fantastic.

It’s helped the Scottish co-efficient and we’re now looking at the possibility of the winners of the league this term qualifying automatically for the Champions League. The coefficient has gone from 26 to 11 at the end of last season and it’s currently nine.

That makes a big difference to the finances of the club. We need to be financially sustainable and running the club within a budget and not dipping into investors’ pockets – but we’re very close to being there.

None of the above explains how losses of almost £2m a month are stemmed and turned into a profit.

Five European ties before Christmas will have raised income that wasn’t there last year but there are also costs involved in staging matches such as policing and stewarding. Hospitality will be clear profit compared to last season but it takes a lot of pies to produce a £2m/month turnaround.

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5 comments

  • Paulsatim says:

    Four Pillars, very masonic phrase! A cry for more help from the BRUVFERS?

  • Paulsatim says:

    Above was auto corrected from what I typed, “brUVFers”, who said anything about conspiracies?

  • BriBhoy says:

    Douglas Park’s matchday pie consumption probably makes quite a dent in the £2m monthly financial shortfall, to be fair.

  • Kyogos Dream Team says:

    You can tell the Knuckodraggaz anything & they’ll swallow swallow it lol! Thick as Fuk, still part wae their DWP Money WHAHAHAHAHA!!

  • Peter Cassidy says:

    All this talk about profit its all depends on europe or player sales there is not enough revenue in scottish football to cover the club outgoings so to turn a massive loss into profit europe is the only way and player sales all this rubbish we don’t need to sell is for the birds.if they don’t win the leauge they could be in trouble they still have to pay for players bought over the last few years and mike Ashley still lurking.

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