Robertson: Ibrox club need Euro windfall...
regular basis. Robertson said: “As mentioned by the Chairman in his speech at the AGM, regular European football will be the key to the Club’s finances becoming fully self-sustaining.
“The increased revenues from retail will go some way to narrowing the gap as will more effective player trading.
“The majority of the deficit is accounted for through qualification for the Champions League group stages.
“Other income streams such as retail revenue and commercial income are increasing however there needs to be a recognition of j ust how valuable qualification for the group stage of the Champions League has now become.
“It is worth in the region of 30m Euros plus associated gate monies.”
Almost half of the loss that was recorded for the last financial year was due to a one-off payment of £3m that was made to Sports Direct as part of the renegotiation of the retail deal.
The new arrangement runs until the end of the current season, as does the kit contract with Puma, and Robertson hopes Rangers will be able to benefit from increased income in years to come.
He said: “The intention is to maximise the revenue which the Club generates from retail.
“Commercial confidentiality dictates that no more can be said at this time in a public forum.
“The sponsorship income i ncreased from £663k in the previous year [an increase of 130%].
“The Club was tied in to certain legacy deals which restricted its ability to grow the sponsorship income short term however as these come to an end, it is anticipated that this figure will grow and the current year is expected to show a further increase.”