Herald reports Ibrox net loss of £900,000

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.