While most media outlets celebrate a massive rise in turnover at Ibrox with claims of a company profit The Herald has revealed that the club made a net loss of £900,000.
There are various ways to present financial figures but the bottom line for football clubs is on the pitch with Giovanni van Bronckhorst still reliant on the squad that Steven Gerrard built during the 2018/19 season with the former Liverpool midfielder inheriting James Tavernier, Ryan Jack and Alfredo Morelos.
The extent of the pay-off to Sports Direct remains unclear, Mike Ashley rarely loses out when any firm breaches a contract.
Tucked away in their glowing report of the club accounts for season 21/22, The Herald reports:
Despite the growing revenue, the club did record an overall net loss for the year of £900,000. In Park’s business review, this is due to “squad and infrastructure investment” and “player amortisation and depreciation of £13.9m”.
With just a £4.9m surplus from transfers during the summer, with seven salaries added to payroll. it is unlikely that there will be much spending during the January transfer window.
Man ,the monthly insurance policy payments to cover John Souttar , must be an absolute bar steward to make ! That will cut into the ‘profit .’ As the Hawk screamed into the microphone back in the day : ‘ big time Bill ,big time ,big time .’
i see ashley skelpt their @reses for around 8 million they can thank king boy for that trying to have him over ashley the ex market trader knows a conman when dealing with one .watch next years accounts directors and investors looking for repayments of loans etc will be interesting reading.
Yes, Daily Record and Scottish Sun both report a £5.9 million profit, operating, all be it. It’s only in the Glasgow times that the £900,000 loss appears. News, what news? ?