McCoist shares his Rangers wish amid 'Really Concerning' finance news
Ally McCoist has expressed his immense worry for Rangers following the latest financial news that has come out of Ibrox. The club released their revenue... The post McCoist shares his Rangers wish amid 'Really Concerning' finance news appeared first on Ibrox News.
Ally McCoist has expressed his immense worry for Rangers following the latest financial news that has come out of Ibrox.
The club released their revenue results on Tuesday (29 October) for the financial year ending on 30 June, 2024, announcing a loss of £17million – their largest-ever negative margin.
By contrast, Scottish Premiership rivals Celtic recorded an overall profit of £13.3m in the same timeframe.
Gers legend McCoist, speaking live on talkSPORT [30 October, 06:05], said he hopes the club can simply start to turn things around.
“Those figures are really, really concerning,” he said. “They’re trying to put a positive slant on it, but it’s their highest turnover ever, I believe.
“Those losses, man, dear me. It’s really concerning. From the outside looking in, you can only hope they get it sorted quickly.”
Rangers look in dire financial straits
As if Rangers fans were unaware of the extent of their club’s chaos over recent years, the financial figures make for grim reading.
This is especially prevalent when over the other side of Glasgow, their bitter rivals appear to be operating as a juggernaut of cash.
The Gers are in the process of trimming their staff costs, having shaved £2.9m from their total wage bill since June 2023. Much of this is down to the expiring contracts of several experienced players.
The club have lost £8m in transfer dealings to Celtic’s £4.9m, while the most glaring statistic of them all is overall funds in the bank: Rangers are maintaining just £1.7m, while Celtic boast £77m in their reserve.
In terms of overall revenue, Celtic’s £124.6m expectedly trumps the Light Blues’ £88.3m, with the Champions League currently playing a significant part, meaning it is difficult to spend the required money to keep pace.
In other Rangers news, Tam McManus offers a similarity between Philippe Clement and Erik ten Hag.
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The post McCoist shares his Rangers wish amid 'Really Concerning' finance news appeared first on Ibrox News.
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