Stefan Borson: Rangers need cash injection after '£100m' Ibrox reveal
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Rangers need third parties to put money into the club each season after recording heavy financial losses at Ibrox.
That is the view of finance expert Stefan Borson, who exclusively told Football Insider the Scottish giants have lost £100million over the past decade.
Speaking at Rangers' AGM on 5 December, interim chairman John Gilligan said the club's board will be "reconfigured and refreshed" after its members have provided funding over the past 10 years.
He added that the structure has "served the club well" and refinancing is ongoing at Ibrox.
It comes after Rangers revealed in their latest accounts for 2023-24 their net losses increased by £4.1million to £17.2million across the period.
But the Glasgow side's core revenue increased from £83.8million in 2022-23 to a record-breaking £88.3million and total income of £94.2million.
The club's overall staff wage bill stood at £61.1million last season.
Rangers need to generate significant European revenue
Borson insisted Rangers need to generate significant revenue from Europe each season to avoid making significant losses.
"It's a very difficult situation that they have got," Borson told Football Insider.
"It's not unusual for a football club to lose money. But Rangers have been consistently loss making for a decade.
"It's relatively small amounts, but those amounts have required third parties to put money in each season just to keep things ticking over.
"They have lost £100million in the last decade, £68million in the four years up to 2021 and then another £22million since 2021.
"The business is very difficult for them really from a financial perspective, save for seasons where they can have interesting European success or involvement.
"Unfortunately, that's what it's become now for both Celtic and Rangers. They do well on matchdays with some of the highest matchday revenues around.
"The Uefa money now is so important in the mix and it can completely transform your PNL.
"Unfortunately, given the wage bill that they are running of around £60-65million, they just have to have a chunk of European revenue, otherwise, they are going to lose quite a lot of money a season.
"It's a challenging situation they have got."
In other news, pundit in disbelief at "incredible" Ibrox revelation.
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