Rangers declare £14.8m loss despite record revenue | OneFootball

Rangers have reported losses of £14.8m for the financial year ending June 2025, a reduction on last year’s £17.2m deficit, despite announcing record revenues of £94.1m, according to reports from BBC Sport.

Revenues rose 7% from £88.3m, driven by strong matchday income, commercial growth and European participation. Operating expenses fell by 4% to £92.2m, enabling Rangers to post a £2.7m profit before player trading, only the second such profit in nine years since returning to the Premiership. The last came in 2021-22 during the club’s run to the Europa League final.

The accounts do not yet include fees received for Hamza Igamane, Jefte, Ridvan Yilmaz and Cyriel Dessers, all of whom departed after the reporting period. The club’s annual report suggests these sales underscore improving alignment between recruitment and financial sustainability: investments made in earlier windows “are beginning to support our business model”.

The most dramatic shift is in Rangers’ cash reserves, which have risen from £1.7m to £30.5m following the takeover by Andrew Cavenagh’s investment group in May. The new equity injection, the club says, provides “a strong base” for future squad and infrastructure investment as Rangers enter “their next phase of growth”.

Yet the financial picture is not without complications. Rangers are still believed to be paying off at least one, and likely two, former managers, Russell Martin and Philippe Clement, during what has been a turbulent 2025, featuring four different men in the dugout. With Danny Röhl now at the helm, stability on and off the pitch remains the club’s most valuable currency.

GFN | Finn Entwistle