Rangers Report £17 Million Loss for 2024

Rangers FC has reported a £17.2 million loss in their annual financial results, despite achieving record revenues of £88.3 million and total income of £94.2 million. Interim chairman John Gilligan acknowledged the challenges faced by the club, including significant changes in leadership, such as the departures of chairman John Bennett and CEO James Bisgrove, who left for Al-Qadsiah in Saudi Arabia. The club's costs totaled £110 million, with staff expenses at £61.2 million, which contributed to the overall loss. Gilligan highlighted improvements in operational performance, reducing pre-trading losses from £10.5 million to less than £2 million, but stressed the need to enhance the player trading model. Additionally, the delay in completing renovation work at Ibrox resulted in moving several home games to Hampden Park. Despite these hurdles, the club's executive team remains optimistic about future performance and strategic objectives.