'Dear me' - Gutted Ally McCoist reacts to 'worrying' Rangers finances
Today at 06:37 AM
Ally McCoist has not shied away from his concerns around Rangers in recent times.
That applies to the fortunes of the club both on the pitch and off it.
Most recently, the Gers legend admitted his heart was breaking after former Celtic manager Martin O’Neill branded the current side ‘ordinary’ and unrecognisable to what he was used to going up against, Coisty admitting he had to agree even though it pained him.
And after the defeat to Kilmarnock he gave forthright views on the ‘hopeless’ performance although did insist the blame doesn’t lie at the door of Philippe Clement.
McCoist really concerned by Rangers finances
Yesterday, Rangers released their yearly finance report and it showed that they have made a whopping operating loss of £17.2million.
Staff costs run into the amount of around £61m while total costs are closer to £96m.
However, it was also shown that there was a record revenue of £88.3m and record total income of £94.2m. And the club also brought the pre-trading loss down from £10.5m to less than £2m.
But McCoist reckons that is trying to put a positive slant on things and says he is very worried about the losses posted.
He said on talkSPORT: "Those figures are really, really concerning. They're trying to put a positive slant on it, but it's their highest turnover ever, I believe.
“Those losses, man, dear me. It's really concerning. From the outside looking in, you can only hope they get it sorted quickly."
Rangers now free of litigation
One other piece of positive news from the report is that Rangers is now free of litigation for the first time in years.
Ibrox chiefs have been fighting battle after battle due to contracts inherited from the previous board.
The final remaining litigation issue was with Elite/Hummel and now that is concluded the club is free of the ongoing costs associated with court battles.
That final fight was confirmed to have cost £3.8million.
