Football Rangers record show COST Parke

Rangers take out another £4m loan and have plans in place for another £9m on top of that

dailyrecord.co.uk

Rangers will take out another £4million loan from investors – and have agreed to borrow a further £9m on top of that. The club released their annual accounts which showed an alarming £17m net loss - compared to £4million 12 months ago - with a record revenue of £88m.

And in the statement to shareholders, it was revealed the Ibrox club are set to take out further loans. It read: “As part of the refinancing, the club will draw down a further £4.0 million in debt funding.

Additionally, our investors continue to be supportive and have agreed a funding plan to raise an additional £8.6million of equity. “Finally, finance costs of £4.0 million were incurred including an element of interest on shareholder loans that was classified as a capital contribution under applicable accounting rules.

The club’s cashflows vary across the season and utilisation of shareholder loans remains a key lever to manage the position throughout the year.

Related News
Pushed to a corner like never before, India face their biggest challenge at home when they clash with New Zealand in the must-win third Test as they are left to salvage pride and fight a perception about their diminishing ability to negotiate quality spin attack. India could be treading a thin line between bravado and desperation while going for the jugular on a rank turner in the final game of the series, starting Friday. After losing their first home series in 12 years, India need to win the Wankhede Test to remain in contention for a slot in the World Test Championship final at Lord's in June.
Hooker Rónan Kelleher is on course to be fit for Ireland's Test match against New Zealand on Friday week.
Waterford's Pádraig Amond, Derry City's Michael Duffy and Dylan Watts of Shamrock Rovers have been nominated for the PFA Ireland Men's Player of the Year award for 2024.
David Coote will be back on the touchline just three days after his controversial awarding of a West Ham penalty during stoppage time of Manchester United's 2-1 defeat in London, the EFL and PGMOL have confirmed.
By his own admission, Nana Kasawnirjo is the young pretender in the Rangers backline. But he’s also the first to admit that old stager James Tavernier remains the daddy at Ibrox.

Latest News

Change privacy settings
This page might use cookies if your analytics vendor requires them.