Turnover of £80m plus- but no sign of profit as website makes Ibrox claim

Football Insider are claiming that the Ibrox Tribute Act are on course to reveal income of over £80m for the year ending 30 June 2022.

Tellingly there is no hint towards making a profit with a loan to Dave King repaid as well as the settlement of the long running Sports Direct legal battle.

With four knock out matches in the Europa League to add to group stage matches and qualifiers the coffers should be brimming but costs and bonus payments will also rise.

In the previous year the club announced losses of £21.5m, even with fees coming in for Steven Gerrard and Nathan Patterson it would be quite an achievement to break even 12 months later.

Website Football Insider claims:

Rangers are set to announce club-record revenues of £80million-plus in their next set of financial results, Football Insider understands.

The Glasgow giants are well on course to smash their 15-year record of £64.5m from the 2007-08 campaign.

Rangers’ financial triumph is mainly due to the prize money from their remarkable Europa League run to the final last term, as well as the supplementary commercial and match day cash hikes.

Analysis from Football Insider has found that revenues are in line to soar upwards of the £80m mark for the 2021-22 campaign.

The 2007/08 figure is of course for the old club, the one that went into liquidation four years after enjoying record turnover.

Should there be a profit on the accounts that information would almost certainly be out there, four months on from year end there is still no sign of the traditional Friday night announcement.

Over the last couple of weeks directors Barry Scott and David Graham have resigned from the company.