GLASGOW, SCOTLAND - OCTOBER 26: Youssef Chermiti of Rangers celebrates after he scores his team's third goal during the Premier League match between Rangers and Kilmarnock at Ibrox Stadium on October 26, 2025 in Glasgow, Scotland. (Photo by Ian MacNicol/Getty Images)
The scale of devastation at Ibrox is starting to sink in.
There is only so much that a four match winning run in the SPFL can cover up for.
Since the so-called takeover from the San Francisco 49ers the club has sacked a manager, CEO and Director of Football.
THE MAGIC MONEY TREE
Last week they claimed that the club had lost £14.8m during the 24/25 season. No trophies were won but they did announce record turnover thanks mainly to reaching the last eight in the Europa League which drew in six sell-out crowds. Losing well over £1m a month.
After a big summer spend costs seem to have increased while income has dropped.
Less than 40,000 bears are attending this season’s Europa matches. Season Tickets have been bought and paid for but only around 35,000 fans are expected to watch Falkirk this afternoon.
Incredibly the club has claimed a net spend of £20m to put together this season’s squad.
Most fans are expecting another big spend in January with the 49ers expected to make up for the mistakes of the summer.
Pushing away the spin Andy Devlin of the Sun reports:
Let’s be blunt, Gers effectively tossed £20million down the drain during the summer.
Youssef Chermiti, Oliver Antman, Thelo Aasgaard, Oscar Cortes, Emmanuel Fernandez, Joe Rothwell, Bojan Miovski, Djeidi Gassama and Lyle Cameron were nine permanent signings brought in.
On current form, there’s not one good enough to be a first-team starter.
Throw in calamitous loan deals for Nasser Djiga, Max Aarons and Jayden Meghoma and the scale of the problem facing Rohl becomes clear.
The German has clearly improved results. But the performances — especially in Europe — have fallen way short of expectations.
ACCOUNTANCY TRICKS
That £20m claim looks conservative. According to reports at the time £20m would have bought you Chermiti, Antman, Aasgaaed, Fernandez and Gassama. Then add on the fees for Cortes and Miovski, the fee for Cameron has still to be decided by the SFA.
No one believes the reported £6m fee reported from Ibrox for Jefte after one season of mediocrity in Scotland. Panathinaikos are unlikely to have paid £3m for 30-year-old Cyriel Dessers.
The summer signings are on contracts far in advance of anything that they’d get elsewhere.
That’s the reason that Ben Davies, Jose Cifuentes, Danilo, Rabbi Matondo, Keiran Dowell and Nedim Bajrami are all still draining the wage bill.
Are you sure that sevco didn’t pay Panathinaikos £3M to TAKE Dessers?!