Rangers chief confirms financial offset blow despite £6m wage reveal

Rangers reducing their wage bill by £6million has been “offset” by Ibrox redevelopments and their failure to reach the Champions League, James Taylor has said.

Speaking at a fan advisory board meeting, Taylor said that the club missing out on a Champions League windfall, as well as early-season stadium costs, have affected their ability to reap financial rewards.

The club announced in 5 December’s annual general meeting that they have cut their wage bill from £41m to £35m this season, but the redevelopment of Ibrox also produced an unplanned cost.

In quotes reported by the Rangers Review (14 December), Taylor said: “The club has made substantial progress in aligning its wage bill with sustainable levels, achieving a reduction of approximately £6m.

“This adjustment reflects a commitment to financial stability and ensures resources are allocated effectively across the club.

“However, the benefits of this normalisation were partially offset by the financial impact of missing the Champions League Playoff round and costs associated with the Hampden and Copland developments.

“These challenges limited the full realisation of the club’s cost-saving measures.”

Rangers rack up costly setbacks despite £6m wages boost

Given the Gers’ latest accounts showed that they had lost an eye-watering £17m, the club is hardly a profitable business operation, but chopping £6m off the wage bill is a step in the right direction.

The club’s Champions League third qualifying round defeat to Dynamo Kyiv was always likely to prove costly both on and off the pitch, particularly with Celtic qualifying themselves to reap the rewards.

That loss also came at Hampden Park, rather the Ibrox, due to the Light Blues relocating from their long-term home for the start of the season due to delayed redevelopments in the Copland Road Stand.

Such upheaval early on didn’t help the Bears to make a convincing start to their campaign, but Philippe Clement’s side have recovered and return to Hampden to face Celtic in Sunday’s League Cup Final.

As the club’s chief finance officer, Taylor has become the bearer of bad news in recent weeks, but with Clement’s team finally hitting form, they’ll be keen to make a statement on the pitch at Hampden.

In other Rangers news, international coaches could be in attendance at Hampden Park to watch one of the Gers’ breakout stars.

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