David Wren, Colin Armstrong and Stevie Clifford discussed all of the latest Rangers news during the most recent edition of the Gersnet Podcast and spent some time reacting to Rangers’ latest annual accounts during the show.
The Glasgow club made an operating loss of £15.9m for the latest financial year ending 30th June. This is an increase from the club’s operating loss of £11.6m for the previous year. Additionally, Rangers confirmed that they have to ‘plug a gap worth £23.2m’ by the end of the 2021/22 campaign, £8.8m of which is needed for the Gers just to get through the current season.
Here is what Clifford had to say about this financial news during this recent edition of the Gersnet Podcast:
“The levels of losses aren’t sustainable. I’ve got to trust the people in charge, but that headline is never nice, it makes you feel uneasy, especially as of where we’ve been.
“I’m concerned that we’re too reliant on the boardroom to an extent. There does seem to be a point where we are going to have to pull back on that. We can’t expect them to keep pumping £10-15m in every year. You can’t expect that.
“I think that our model is going to change, in terms of you’ll most likely see a couple of major player sales possibly next summer.”
Are you concerned about Rangers' financial situation?
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TIF Thoughts on what Clifford had to say about Rangers’ finances…
Considering that Rangers dealt with financial issues that led to the club entering administration and then liquidation less than a decade ago, perhaps it is understandable if this financial news is concerning for Gers fans, as Clifford suggests.
However, given that club chairman Douglas Park and director John Bennett have agreed to provide the Glasgow club with loans to help them to get through the next two seasons, perhaps there is no need for too much immediate concern from Rangers supporters.
Clifford may be right in saying that the club could be set to change its model in the transfer market in an effort to improve the financial situation at Ibrox, though, as it has been claimed that profiting from player sales is a ‘widely untapped’ market for the club. As a result, perhaps it would be a good idea to try and make more money this way, as their Old Firm rivals do.