Park feels SPFL have undersold the game
Rangers chairman takes swipe at governing body in finance report
DOUGLAS PARK, the Rangers chairman, has claimed that Scottish football is being undersold by the SPFL and warned the game in this country will be left behind unless there is change after the Ibrox club announced an operating loss of £23.5m.
Park took aim at the SPFL executive in his annual report to Rangers shareholders – he stated that he and his fellow directors have “real concern” over corporate governance and demanded clubs are shown “more respect”.
The Scottish champions are currently locked in a stand-off with the SPFL over the £8million league sponsorship deal that was signed with online car retailer cinch in the summer and the dispute has been referred to the SFA for arbitration.
They are currently refusing to allow cinch branding to be displayed on team shirts or on advertising boards at their stadium because of a commercial agreement that was struck with Park’s firm Parks of Hamilton.
“The corporate governance of the SPFL continues to cause us real concern,” wrote Park. “We need more transparency in the manner in which the game operates.
“The people in charge are only in those positions due to the existence of the clubs and it is time that they showed the clubs more respect than has been the case in recent years.”
The SPFL last month announced that a record £28.4m in league fees had been paid to all 42 of their member clubs in the Premiership, Championship, League 1 and League 2 in the 2020/21 campaign – £5m more than had been distributed the previous season.
But five Scottish clubs, Aberdeen, Dundee, Dundee United, Hearts and Hibernian, commissioned accountants Deloitte to carry out an independent strategic review of the SPFL back in September and try to identify “significant additional revenues”.
Park continued: “We (Rangers) believe that Scottish football is a strong product, but it is undervalued and as a result undersold. This must change.
“The ambition of clubs must be realised and driven forward by those in leadership positions. If not, I believe Scottish football will be left behind.”
Park blamed the impact of the coronavirus pandemic – which resulted in fans being locked out of stadiums for the entire 2021/22 season – for Rangers’ disappointing financial results.
The Glasgow club’s revenue fell from £59m to £47.7m and their losses increased from £15.9m to £23.5m in the financial year ending June 2021 despite their first Scottish title victory in 10 years.
Park and vice-chairman John Bennett have agreed to cover projected shortfalls of £7.9m to ensure Rangers can continue as a going concern to the end of the 2022/23 season.
Park wrote: “The past year has continued to bring unprecedented challenges to our club. The pandemic wrought a profound impact on our
It is time that they showed the clubs more respect than has been the case
club, both on and off the field of play and its effects continue to be felt.
“When the current board wrestled back control of our club, I viewed this as a 10-year project. In 2021, I still believe that analysis to be accurate. The condition in which our club was left cannot be underestimated. Yet, painstakingly and with unerring resolve, we have rebuilt and we will continue to do so.”
The annual report confirmed that Rangers had repaid a £5m loan to former chairman Dave King in the past financial year – plus £832,000 in interest.