The Rangers Losses since 2012, £65.2m and all they’ve got to show for it is a Petrofac Cup!

THE LATE FRIDAY NIGHT press release trick was used by the Rangers last night. We can’t criticise them too much for that because Celtic did exactly the same thing a week before when they sneaked out the news that they were NOT going to back the new resolution that is being championed by Auldheid & co.

It’s NOT clickbait to have an opinion on Res 12 and all supporters will call it as they see it. Many will agree with The Celtic Star’s Betrayal headline, while others will take a more pro-board stance. It will all come out in the wash. Maybe it’s a good time to drop in a tune from Elvis?

Anyway back to the Rangers accounts, where they keep talking about THE CLUB rather than THE COMPANY THAT OPERATES THE CLUB. Here’s the CLUB’S tweet…

And now for some reaction on Twitter…

Andy Muirhead, former editor on Scotzine before in became a CQN owned site, had this to say…

“Rangers’ losses by season:

2012/13 -£14m
2013/14 – £8.1m
2014/15 – £7.5m
2015/16 – £3.3m
2016/17 – £6.7m
2017/18 – £14.3m
2018/19 – £11.3m

Total for last seven years – £65.2m

All they’ve got to show for it is the Petrofac Cup.”

Journalist Brian McNally noted: “Rangers latest accounts show a loss of £11.3m making a total of £25m in 2 years. If this trend isn’t halted they’re heading for FFP trouble & as the auditors warn “going concern” anxiety. Don’t forget Ashley’s bill for “millions” looms & Kent’s £7m fee isn’t in these figures.”

The Clumpany marvels at the positive spins that the MSM can put on terrible results like this when it relates to their team…”No one – absolutely no one – polishes a turd like the Evening Shark-Jump.”

“Beyond comprehension how Rangers can increase their turnover by £20.6m from last season yet still post loss of £11.3m with further £10m needed to see out 2019-20.

IMO the next 18mths is monumental, if they don’t win any of the next two titles, funding will dry up in a major way,” Agent Scotland reckons.

Scott McIntyre, replying to that had this to say: “It’s a disgrace how they are allowed to run at massive losses every year since they were formed in 2012. Every other club is living within their means. So when does FFP come in to effect? Never!!”

The Bunnet picks out perhaps the most crucial aspect of these accounts, one which should but won’t worry the Rangers support.

“Rangers annual accounts – WOW. £11 million pound loss followed by:

“A material uncertainty exists that may cast significant doubt on the groups ability to continue as a going concern”

SIGNIFICANT doubt. Unbelievable.”

This may give some hope to the hard-up, hard of thinking…

About Author

The Celtic Star founder and editor, who has edited numerous Celtic books over the past decade or so including several from Lisbon Lions, Willie Wallace, Tommy Gemmell and Jim Craig. Earliest Celtic memories include a win over East Fife at Celtic Park and the 4-1 League Cup loss to Partick Thistle as a 6 year old. Best game? Easy 4-2, 1979 when Ten Men Won the League. Email editor@thecelticstar.co.uk

Comments are closed.