Rangers post financial loss, but “free of litigation”

Rangers reported a £17.2m net loss for the year, up from £4.1m last year, despite record revenue figures. The club recently settled a long-standing legal dispute with Elite Sports Group over Hummel kits, marking the first time in over a decade they are free of litigation claims.

Rangers' financial report highlighted "record core revenue of £88.3m" and "record commercial revenue of £67m," with CFO James Taylor calling it a "stunning performance." While costs rose only by 1%, a player trading loss of £8m and a pre-trading loss of £2m still contributed to the financial shortfall.

The club has made adjustments to reduce first-team costs by £2.5m, aiming to cut a further £6m next year, focusing on lowering the squad's age profile. Net borrowing increased to £28.4m, with £8.6m in new funding secured from investors.

Interim chairman John Gilligan acknowledged recent changes, including the departures of chairman John Bennett and CEO James Bisgrove, but noted the strong support from fans and progress on strategic goals. He apologized for delays in work on the Copland Road Stand, which led to four games being moved to Hampden Park, adding that the fan support there was exceptional.