Tom English moots 'Existential Crisis' at Rangers after multi-million Celtic news

Rangers face an “existential crisis” with their current finances light years away from those of Celtic, according to Tom English.

The BBC journalist wrote on 24 September after Dave King spoke out on matters at Ibrox [talkSPORT, 16 September], stating that in financial terms at least, the club’s majority shareholder is correct.

On the other side of Glasgow, despite spending record amounts in the transfer window, Celtic still have £77million in the bank and are set for a further boost in the form of Champions League money.

He wrote: “King is right, to an extent. Rangers are in an existential crisis. Celtic’s finances are on another planet compared to Rangers. They have spent more money in transfer fees this year than in any other year in their history and they are still showing profit.

“They have £77m in the bank with even more Champions League loot to add.”

Can Rangers catch up to Celtic on the financial front?

With Celtic currently well ahead of their Glasgow rivals on multiple fronts, it remains to be seen just what the Light Blues can do in the immediate term to try and bridge the gap.

Qualifying for the Champions League group stages certainly would have helped, but a controversial 3-1 aggregate loss to Dynamo Kyiv put paid to the Gers’ chances of reaching Europe’s leading competition.

Philippe Clement led a much-needed overhaul of his squad during the summer transfer window, but his spending on 11 new signings was almost swamped by Celtic’s outlay on Arne Engels alone.

A 3-0 loss in the only Old Firm fixture so far was also representative of the gap, and it’s clear that change must be afoot at Ibrox if Clement’s side are to overtake their biggest rivals.

An outside influx of cash will be difficult to come by, given the attitudes of the board and shareholders like King [Rangers Review, 27 August], but external assistance is surely required if the Gers are to get themselves back on a level playing field.

In other Rangers news, a former Ibrox favourite has shown the Light Blues what they’re missing after what he did in Europe.

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