To lose £17.2m on turnover of £94.2m is an incredible achievement in mis-management.
Except for those on the payroll of BBC Scotland, the state broadcaster that shells out fortunes for the expert opinions of Kenny Macintyre, Tom English, Alasdair Lamont, Jane Lewis, Cammy Bell, Billy Dodds, Neil McCann and Steven Thompson.
The accounts write their own headlines, the club massively overspent last season, £17.2m of losses is more than Aberdeen’s entire turnover for the year to 30 June 2023 when £15.77 came into Pittodrie over a 12 month period.
Facing up to financial reality for clubs at Ibrox has historically proven to be a blindspot for the state broadcaster who decided that the headline from the accounts was the fact that there is no longer any unresolved litigation!
Rangers are “free of any litigation claims for first time in over a decade” as they posted a £17.2m net loss – up from £4.1m the previous year – despite what the Scottish Premiership club say are record revenue and income figures for the year to June.
The Ibrox club in August settled a dispute with the administrators of sportswear brand Elite Sports Group Ltd in a row over their Hummel brand kits.
Rangers’ annual accounts highlight a “record core revenue of £88.3m, record total Income of £94.2m” and “record commercial revenue of £67m – double digit growth”, with chief finance officer James Taylor describing it as “a stunning performance”.
After that it was just a copy and paste job from the BBC despite their vast resources on the Sports and News Desks able to call in expert analysis of what those figures really mean.
With UEFA now in charge of Financial Sustainability the 2024 accounts will severely limit future transfer spending as the 2012 Tribute Act suffer the consequences of years of overspending.
Applying the brakes to spending opens the door to second and third place in the SPFL Premiership with the UEFA prize money capable of transforming the profile of Hearts or Aberdeen.
Never mind wae a RECORD Turnover they can STILL pay aff Big Flippe Flop & get Pirlo in tae bring in Italian ‘Loanees’ using his UNDOUBTED Network of Top Class Chefs in Govans Trattorias lol! TRULY A LAFFIN STOCK AE A CLUB but they’re Coming AREN’T THEY?? BAWAHAHAHAHAHA!!
So disappointed its as low as this…was hoping for much worse.
They are a basket case.
I’m loving their pain.
Turd polishing of the highest order. Sevco fans are actually swallowing it, not all, by any means. One staunch character on Follow, follow advised a fellow bear who asked what the accounts meant, that it meant that they had turned the corner. Oh dear.
Editor I’ve just learned of the latest Sevco money maker.
They have brought out an album called …
NOW THAT’S WHAT I CALL LIQUIDATION 2.
Some of the tacks on include…
1) Borrow Borrow…we will borrow millions.
2) The cry was no reminders.
3) The Cash my Father owed.
4) Simply in debt.
5) Hello hello we are the Bailiff boys.
6) Zombie Nation.
7) We’ll remortgaged Derry’s walls.
And many more tracks.
Stupendous..TN.
You win the Internet for that.
The Penniless Arcade?
The BBC doing it’s bit to put a positive spin on the disastrous financial calamity of theRangers accounts ..just in time before the Aberdeen game tomorrow .It’s a ” don’t worry lads we’ve got your backs ” in all kinds of weather and hazards . Just concentrate on winning in Aberdeen and we will do the rest ….
Nothing New form institution of Catholic’s need Not Apply.
They have payed pensions to employees of both clubs since 1950’s
Keep them Away from Paradise.HH
Those accounts are COMEDY GOLD £17 million quid and counting all pissed against a wall,not a thing to show for it.
Now they are going to have to borrow more on top of what is owed out already what’s that about when your inna hole.
Lol having to scrounge and ponce to get by on a daily or weekly basis.
The klub that’s done more TAPPING than a blind man’s stick.
Then you take your pick at the BBC for who wants to do the best impression of COMIICAL ALI by bragging that the new klub being free of litigation,until the CHISLER is back at the top of the marble staircase,which should the new klub get skelped tomorrow night,probably by the weekend.
And to think that over the last couple of days the Scottish mug journalists have been pushing it out there that Graham Potter and Andres Pirlo are ready to have a square go to take over from Kojak.
“Negligence and unprofessionalism”.
No not RIFC / sevco.
That is what sevco publicly accused Dundee FC of,
as a result of the state of the Dens pitch last season,
and whilst complaining to the SPFL to successfully recover
a ‘five figure sum’ for travel and hotel costs.
sevco publicly slagging off a much smaller club for c.£15K,
whilst running up £17M in losses!
The ibrox club should just do the decent thing – and depart from
the Scottish game… permanently. 🙁
Lol I forgot about the tramps demanding £15,000 from a wee family club like Dubdee,meanwhile back at the graveyard the new klub demanding that £15,000 are in a hole to the tune of £17 million quid they owe to Tom,Dick and Harry.
Just noticed that the book value / equity value of RIFC
has almost HALVED in the space of 12 short months:
from c.£40M to c.£23M.
That looks like a fairly terminal indication?
They bring in c. £90 million and they make a loss? Unbelievable!
They should double the price of a pie and beef drink immediately!
It is almost as if they were trading as something other than a football club!
Expert Opinion of Tom English? Well there’s an oxymoron there for sure!
When he was asked what would be Dundee’s approach to tonight’s game, he replied
“I don’t Know!”
Well, maybe he doesn’t!