The Athletic’s Rangers correspondent Jordan Campbell has detailed the latest financial situation at Ibrox, as Giovanni van Bronckhorst prepares for his second season in charge of the Teddy Bears.
The Gers have obviously endured their fair share of financial issues in the past but Campbell suggests that they are in a good place right now and should find themselves ‘in the black’ in the near future, so long as they can earn a spot in the Champions League group stages next season.
Van Bronckhost’s side narrowly missed out on an automatic group stage place when they lost on penalties against Eintracht Frankfurt in the Europa League semi-final last month but will be hoping to replicate their strong European performances when they enter the qualifying stages at the third round next month.
Things were looking bleak for the Ibrox outfit in the wake of the pandemic as they posted £23.5m in losses but after a full season of capacity crowds, Europa League runs and player sales, they are back in a strong position.
Campbell confirmed that, if Rangers do fail at the qualifying stage, then a player may need to be sold in order to balance the books.
“It is thought that with the money generated from the sale of Nathan Patterson to Everton (although it isn’t all up front), the compensation for Gerrard and his team joining Aston Villa and the Europa League revenue, it will see Rangers in the black for the first time in over a decade.
“That is where they need to be, but they also need to put a winning team on the park — and that means there will be movement this summer.”
Supporters will no doubt be glad to hear that their club is in a strong financial position and will be hoping that Champions League qualification allows them to be active in the summer transfer window.
If the worst happens, then Rangers have a number of saleable assets including Ryan Kent, Calvin Bassey and Joe Aribo, so there seems to be little danger of the Ibrox outfit slipping back into the red.
And, in other news… Rangers dealt transfer blow, Gerrard will be gutted