'Massive Hole' - Journalist explains £17m+ loss as Rangers still paying two key figures

Rangers are still paying off the contracts of former managers Giovanni van Bronckhorst and Michael Beale, Scott McDermott has said.

Speaking on Record Sport’s Hotline (29 October), McDermott and Scott Burns discussed the Gers’ recently-revealed £17.2million in financial losses, and just how much of that money has been wasted.

Operating costs of £110m at Ibrox [Rangers.co.uk, 29 October], including £61m in staffing fees, is by far the biggest area in which the club are losing money, and sacking two managers in as many seasons certainly hasn’t helped.

Burns said: “Every manager who comes in, brings in their own players. When Michael Beale brought in several players, he thought he was there for the long term – a lot of them have been wiped out.

“[Philippe] Clement’s now in, he’s bringing in players – he thinks he’s there for the long term. You can’t keep just changing the managers, and then changing the squads; that financially leaves a massive hole.”

McDermott added: “They’re also still paying the previous two managers, which is going to hit them in the pocket – (Gio van Bronckhorst), and Michael Beale, yes.”

Rangers still being made to pay for the mistakes of the past

The Gers being short of cash is nothing new to either the club’s fans or Clement himself, with penny-pinching aplenty taking place as the Belgian lead a summer overhaul of the playing squad.

Van Bronckhorst and Beale will both have had similar ideas and visions for how they wanted their Light Blues sides to look in previous summers, but the Bears board pulled the plug on each of them.

As Clement prepares to take his side to Pittodrie for a top-of-the-table clash on 30 October, he too could be on the verge of the sack if the visitors lose to fall nine-points behind high-flying Aberdeen.

Clement’s squad rebuild is far from complete after just one summer transfer window in charge, but he’ll know all too well that both Van Bronckhorst and Beale never made it to a second.

A ramshackle Rangers boardroom don’t seem to have the expertise, nous, nor finances to get rid of Clement straight away, but clearly that’s not stopped them from pulling the trigger in recent years.

In other Rangers news, Clement’s comments regarding one out-of-form new Ibrox signing have been slammed as “nonsense”.

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