Rangers cut losses as the crowds and turnover rise

The Herald - Herald Sport - - LADBROKES PREMIERSHIP - STE­WART FISHER

RANGERS last night re­vealed they lost £3.3m last sea­son – al­most half the head­line fig­ure of losses from the sea­son be­fore. Turnover was up to £22.2m dur­ing a sea­son which saw the club claim the Lad­brokes Cham­pi­onship ti­tle, win the Petro­fac Train­ing Cup and reach the Scot­tish Cup fi­nal. This con­trasted with £16.3m for the 2014-15 sea­son, when they lost out in the play-offs to Mother­well.

While the club’s av­er­age at­ten­dance was up ap­prox­i­mately 10,000 and their num­ber of ticket hold­ers up some 11,000, the fig­ures only il­lus­trated the amount of work which still must be done to catch up on city ri­vals Celtic. Their most re­cent fig­ures for the year to June 2016 saw them an­nounce a turnover of £52m, and a small op­er­at­ing profit of £450,000, for a pe­riod which does not in­clude the ar­rival of Bren­dan Rodgers and the Park­head club qual­i­fy­ing for the Cham­pi­ons League.

The pe­riod in ques­tion for Rangers does not in­clude wages for high-pro­file sign­ings such as Joey Barton, Niko Kran­j­car and Joe Garner but did in­clude the board se­cur­ing the funds to pay off a £5m loan to Sports Di­rect.

“The board and the ex­ec­u­tive have had to work ex­tremely hard over the last year to deal with all of the is­sues that the club has faced,” said chair­man Dave King. “This ef­fort must be re­peated in the com­ing year as we con­tinue to achieve our goals in what re­mains an ex­tremely chal­leng­ing en­vi­ron­ment.

“Our sup­port­ers un­der­stand the dif­fi­cul­ties that have been over­come and the chal­lenges that still lie ahead and their un­wa­ver­ing loy­alty has been the one con­stant through these years of change,” he added. “This sup­port and back­ing is vi­tal if Rangers is to re­gain a po­si­tion of do­mes­tic dom­i­nance and re-en­ter the Euro­pean arena. No mat­ter what we do in the board­room or on the foot­ball pitch, noth­ing will be achieved with­out our sup­port­ers whose high ex­pec­ta­tions must al­ways be taken into account.”

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