Rangers seek investor funding as club present annual loss
4 November 2019
Despite increasing their revenue by 63 per cent to £53.2 million in the 2018/19 season, the club presented an annual loss of more than £10 million for the second year in a row.
Rangers' directors have reached an agreement with the family trust belonging to the club's chairman, Dave King, to provide loans to the club to meet their financial liabilities for the 2019/20 season.
In the face of a successful season resulting in a total revenue increase of 63 per cent for the year 2018/19, Rangers have announced that they require additional investor funding to meet their financial liabilities for the current season.
"At the time of preparation, the forecast identified that the group would require £10.0 million by way of debt or equity funding by the end of season 2019/2020 in order to meet its liabilities as they fall due.
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