Rangers International Football Club PLC Annual Report

[Bluedell 5,601]

Rangers International Football Club PLC Annual Report | Rangers Football Club

 

Revenue up from £84m to £88m.

Increased loss for the year from £4m loss to £17m loss, mainly due to making a lot less on player sales.

[Rousseau 10,489]

Key highlights include:

• Record Core Revenue of £88.3m; Record Total Income of £94.2m.

• Record Commercial Revenue of £67m; double digit growth.

• Cost increases managed to just 1%.

• Pre-player trading loss reduced to £2m – down from £10.5m in 2022/23.

• Club free of any litigation claims for first time in over a decade following settlements.

[buster. 5,096]

Celtic message board forums cancel all leave.

 

Out a little earlier than usual.

Without looking at anything else, that 17M number is a bit on the large size.

[Rousseau 10,489]

 

[Bluedell 5,601]

A couple of other comments:

 

We are largely reliant on financial support from the directors, and there are £22m of loans outstanding to them at the year end. They can be rightly criticised over a number of issues but they are obviously still highly committed to the club, and I'm not sure where we would be without their ongoing support, for which they deserve to be praised.

 

We have a settlement cost of £3.8 million, which is presumably the cost relating to the Elite/Hummel case. It's so frustrating that we have wasted cash in such things, although perhaps it was factored in to an extent when deciding to switch to Castore. 

 

We are now apparently litigation free for the first time in 10 years. Thank f***!

[Bluedell 5,601]

8 minutes ago, Rousseau said:

Key highlights include:

• Pre-player trading loss reduced to £2m – down from £10.5m in 2022/23.

Partly due to receiving £3.9m of a covid related business interruption insurance claim and partly due to the sale of part of the Albion () for £1.1m, so £5m that don't relate to that year's trading.

[CammyF 7,890]

So £17.1M losses and £22M in loans outstanding. I can't be the only one not doing cartwheels at these results?

 

Positives ;

No more litigation (jinxed it!).

Record Commercial revenue.

Players wages decreasing. 

 

As Bluedell says, the sale of part of The Albion for just over a million seems short-sighted and unnecessary. 

[RANGERRAB 3,613]

Appalling figures and things only going to get worse especially on the playing side where we’ll have no money to improve the team. I can vividly recall the early to mid 80’s. Half empty stadium because of a poor side on the park . That’s where we’re heading back to now….

[Gonzo79 15,157]

4 minutes ago, RANGERRAB said:

Appalling figures and things only going to get worse especially on the playing side where we’ll have no money to improve the team.

It all hinges on the player trading model.  Another Bassey or Patterson would make a big difference.  

[RANGERRAB 3,613]

5 minutes ago, Gonzo79 said:

It all hinges on the player trading model.  Another Bassey or Patterson would make a big difference.  

I see no Bassey or Patterson on the horizon though. We’re too busy signing out of contract Bosmans because we’ve no money to buy anything better.

And those we do pay money for all seem to be injured constantly. Are we serious going to pay £5m for Cortes next summer? More money wasted