Rangers post £17.8 million loss despite surprising revenue growth

21 November 2020

Photo: PA Images Rangers have announced a £17.8 million pre tax loss up to 30 June, an increase of £6.4 million from the previous year.

Rangers grew all revenue streams in a curtailed 2019/20 season - in contrary to rivals Celtic.

The club's wage bill increased by 25 per cent which pushed their loss before tax to £17.8 million.

The Scottish Premiership club say they need £23.2 million in fresh funding by the end of next season.

Mads Meisner Christensen mm@offthepitch.com

Looking at Rangers' annual accounts one could forget that the Scottish league was curtailed in March because of the ongoing pandemic.

In contrary to most other European clubs, turnover increased by 11 per cent to £59 million and most surprising it was driven by growth in all revenue streams – matchday, broadcast and commercial.     

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