Stefan Borson suggests the real reason Rangers' owners bankrolled £5m+ injection

03/18/2025 12:16 PM

Rangers' financial situation has been firmly in the spotlight over the past few months following their heavy losses.

The Scottish giants' revenue increased from £83.8million to a record-breaking £88.3million in 2023-24, but their net losses surged by £4.1million to £17.2million.

Football Insider revealed on 12 March Rangers have received a £5.3million injection from their current owners in the form of a new share issue.

It comes after Rangers' owners injected £3.6million into the club last month in a similar transaction.

Finance expert Stefan Borson exclusively told Football Insider the Glasgow side will continue to need money putting in to pay the bills at Ibrox.

The 49ers Enterprises-backed takeover of Rangers appears to be progressing following widespread reports claiming a deal has now been agreed in principle.

The US consortium, which includes Leeds United chairman Paraag Marathe and health insurance tycoon Andrew Cavenagh, is looking to secure a majority takeover and wants control of the boardroom by buying at least 51 per cent of the club's shares.

Rangers have enjoyed an incredible past week after beating Jose Mourinho's Fenerbahce on penalties to reach the quarter-finals of the Europa League and securing a 3-2 away victory over Celtic in the Scottish Premiership.

Rangers need ownership change after latest injection

Borson suggested the latest injection from Rangers' owners shows the need for change at Ibrox.

He told Football Insider: "They’re going to need to just keep putting money in because they are loss making.

"It’s similar to the Ratcliffe situation in terms of what he was saying about Man United.

"If you’re constantly burning cash and losing money, then of course to pay the bills, somebody’s got to put some cash in to give you working capital to be able to pay the wages and everything else, so it’s just going to keep going.

"If you’ve got no money and you’re loss making, then you’re going to see either equity come in, debt or some form of quasi equity or debt. It’s just the way it works. There is no option, so that’s just the way it is.

"It doesn’t signify anything, but it shows the need for a change of something. Otherwise, every year you’re just going to need millions of pounds to come in.

"As it happens, things like a quarter-finals of the Europa League over two legs, that’s going to pay some bills.

"When they get that check from Uefa, if they can get to the semi-final, it’s going to pay some more bills. If they get to the final, it’s going to pay some more, so that’s going to help.

"But even those things aren’t free because it’s not cheap to take 40 players to Turkey for a round of 16 game. Yes, you get your prize money from winning the tie, but it’s not like it’s cost free. There is cost in this stuff. It’s not pure profit and there is cost.

"Also, if you think about it from a cash flow perspective, they have to pay that upfront. The hotels and the flights are real. These are real costs that have to be paid and they don’t get the money for two months, so they’ve got this working capital gap.

"These are the realities of managing cash. If you’re a loss-making club, you need cash to be put in at the top to pay for the bills."

Everton could agree deal for Rangers star Hamza Igamane

Football Insider revealed on 14 March Everton could sign Rangers star Hamza Igamane in the summer transfer window.

Everton are expected to face stiff competition as European outfits Marseille and Sevilla are also keeping tabs on the forward's progress.

Igamane has registered 14 goals this season, including the winner in the recent clash against Celtic.

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