Rangers have announced an operating loss of £17.2million in the past financial year. The Ibrox club released the annual report and accompanying financial statement for the year ended 30 June 2023 which is in stark contrast to last year’s.
Twelve months ago the club posted a slim operating profit of £252,000 but it’s a sorrier sight now with cash being haemorrhaged.
The figures do show record core revenue is up by £5m to £88.3m. But total operating expenses – or costs – remain high at £110m.
Staff costs account for £61m, down by £3m on last year. The outlay of their short term Hampden tenancy was also listed with Rangers writing the Scottish Football Association a cheque for £67,000.
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