Celtic fans are not buying into Rangers’ financial results

by John McGinley share

1 minute read 23/3/2017 | 02:30pm

As reported by The Daily Record, Rangers have posted unaudited trading results for the six months to December 31st 2016 that show the club made a profit of £300,000 for the period.

It’s the first time a profit has been reported since Dave King took over the Ibrox club two years ago. Last year a comparable six month report showed a loss of £500,000.

The club, quoted by The Daily Record, said:

Overall, it is an encouraging financial performance that reflects the move to a more normalised trading environment as the numerous event risks that have bedeviled the club’s operations over the last few years have been brought under control.

However, it’s fair to say the news is being treated with scepticism in the green half of Glasgow.

Always taking special interest in the behind-the-scenes going on at Ibrox, Celtic fans have reacted to the news and reckon it’s not as rosy as being made out by the Rangers hierarchy.

The doubters reckon that they’re trying to put a positive face on a financial situation that is less than stellar.

Do they have a point? Or are they just hesitant to see the Ibrox club become stronger over the next few years?

Fans took to Twitter to share their point of view on it all…

@Record_Sport @Daily_Record well isnt that without compensation to warbs etc so misleading figures??

— Brian bhoy (@BrianScotsBhoy) March 23, 2017

@Record_Sport unaudited you say? A "profit" which is a tenth of soft loans received? (Those made public anyway!) So really a bigger loss? ⌛⚰

— Teen Wolf's Dad (@akkward7199) March 23, 2017

@Record_Sport I could get a loan and pay off my debts, but I'll still be in debt to the person I got the loan from. How stupid are yous??

— Scott (@ScotRK1981) March 23, 2017

@Record_Sport talk about putting lipstick on a pig!
When is a profit not a profit? – when its a loan. #unaudited

— StMiley (@StMiley) March 23, 2017

@Record_Sport nothing but debt and soft loans with many more liabilities payable before season end = no FFP adherence and no Euro licence

— Jim Connor (@IdahoShmoe) March 23, 2017

@Record_Sport And the 2nd 6 months without the season ticket income will be…. Oh I forgot, there's the £6m for Barry MacKay…

— Brian (@Stoneysnapper) March 23, 2017