Rangers received £4.25million from Aston Villa in compensation for former manager Steven Gerrard, the Ibrox club’s annual accounts revealed on Wednesday.
The cinch Premiership club posted a record turnover figure of £86.8million last season and it helped them return an operating profit of £5.9m – a vast improvement of the 27.6m operating loss registered last November for the 2020-21 campaign.
Rangers outlined the figure received from Villa in relation to Gerrard’s departure, noting: “Compensation income relates to amounts received following the departure of the previous football management team.” The former England midfielder departed Glasgow last November to take up the post of head coach at Villa.
He was sacked by the midlands club last month. The money received from Gerrard’s exit contributed towards Rangers recording healthy financial results, which were also boosted by their excellent run to the Europa League final and fans returning after the behind-closed-doors period due to the coronavirus pandemic.