Finance expert Barry Ferguson explains RIFC accounts and spending plans to Daily Record readers

Barry Ferguson has given his verdict on the Rangers International Football Club accounts, telling Daily Record readers that a £900,000 loss was actually a £5.9m profit.

With circulation dropping towards 60,000 per day less people will be taken in by this FACT! Than those who believed that in 2010 there was a billionaire from Motherwell about to throw his wealth into Dave Murray’s old club.

Wednesday’s accounts showing a loss were quickly manipulated by the usual suspects as they celebrated a modern day miracle while ignoring the facts presented to them.

Taking it all a few steps further Ferguson expects his old mate van Bronckhorst to be a big spender when the January transfer window opens up.

He told Daily Record readers:

If the board decides to persist with the manager, then they owe it to him to provide the tools that can help get this team back on track. Mind you, perhaps the reason why they’ve decided to stick by Gio is down to money.

To remove the gaffer, they’d have to pay both him and his backroom staff off and that might be a costly business. Given the fact the club is only just back in the black as this week’s accounts showed, that would be a bitter pill to swallow.

Rangers have finally got their house in order when it comes to the financials. The £5.9million profit recorded in the year up to June 30 was good news after a decade of losses.

There should be another set of bumper figures in next year’s report, which will include the sums generated by the big-money sales of Calvin Bassey and Joe Aribo, plus this term’s Champions League windfall. But my concern is over what comes next.

It’s not just vital for Gio that Rangers make a success of this upcoming window, but the club too if they are to avoid falling behind Celtic in the financial arms race. They’re already lagging in this year’s title battle after Sunday, which was obviously a dreadful result.

If Ferguson cares to look at the accounts he will note that £19.9m has been brought in on transfer fees since June 30 with £15 m reinvested on seven new players.

Having made a £900,000 loss last season, with four less UEFA knock out ties this season the failure to take a point in this season’s Champions League will result in a noticeable drop in income from UEFA and matchday sources.

It seems like a 1-0 win over Hearts has reassured Ferguson and the gullible that their current manager can deliver this season’s SPFL Premiership title.