‘Rangers’ put on UEFA Watchlist over Financial Fair Play

UEFA has put the club from Ibrox on their Watchlist for Financial Fair Play.

Since formation in 2012 by Charles Green the Tribute Act has been running up regular losses of £10m or more without anyone in Scottish football showing concern that they could go the same way as Third Lanark, Gretna and Airdrie.

Losses reached an incredible £23.5m for the year to 30 June 2021 but even allowing for the impact of Lockdown that was an incredible figure.

UEFA have introduced new criteria for monitoring FFP and are no longer prepared to accept self certification from friendly national associations like the SFA.

Now it seems that the refusal of Scottish clubs to operate FFP could be about to hit last season’s runners up in the Europa League.

That news probably goes a long way to explaining a spend of around £13m by Giovanni van Bronckhorst during the transfer window despite the alleged sums brought in from the sales of Nathan Patterson and Calvin Bassey as well as reaching the group stage of the Champions League.

Had the SFA complied with FFP Rangers would have had to repay an overdue bill to HMRC of £2.8m in 2011 to compete in UEFA competitions. Hoping that Champions League group stage money would repay bills proved to be a flawed strategy as Ally McCoist led his side to defeats from Malmo and Maribor.

With no UEFA money coming in the club decided to stop paying HMRC, after administration in February 2012 Her Majesty rejected a CVA in June 2012 putting the 139 year old club into liquidation.

Rob Harris is a reporter for Sky News.

CLICK HERE for full UEFA report.