Football finance expert Keiran Maguire has shown how Rangers have closed the gap on Celtic in terms of their revenue after the Gers’ full accounts were published for the year ending 30 June 2020.
As shown in a graph on Maguire’s personal Twitter account, Rangers’ revenue was at £59million, up from £53.2million the year before.
Interestingly, Celtic’s revenue has plummeted in comparison and the £30million gap of last year has been dramatically reduced to just over £11million.
Rangers publish full accounts for year ended 30 June 2020. Despite Covid-19 revenue increased by 11% compared to 16% decrease at Celtic. Gap between two clubs down to £11m from £30m in 2019 pic.twitter.com/PyD0ZOLi9I
— PriceOfFootball (@KieranMaguire) November 20, 2020
Of course, some Rangers fans don’t like seeing comparisons made to Celtic but in the grand scheme of things in the Scottish Premiership, they are the only club worth comparing to.
Celtic’s revenue appears to correlate with their performances on the pitch with the Bhoys going backwards from that unbeaten domestic campaign in 2016/17 and also failing to reach the Champions League group stages since the same season.
Rangers, on the other hand, are improving in domestic and European football by regularly qualifying for the Europa League group stages and year-on-year applying more pressure on the Hoops at the top end of the Scottish Premiership.
COVID-19’s impact on football’s economy has to be taken into account but the effects are the same for both Old Firm clubs so there’s not really anything else to say other than point out the fact Rangers are close to getting back to where they belong – if they’re not there already.
Steven Gerrard’s done a magnificent job in charge of the Gers while the board also deserves credit for the way the ship has been run financially.
Rangers are signing quality players for bargain prices and managing to improve their transfer value in a very short space of time.
Alfredo Morelos, Glen Kamara, Joe Aribo, Ryan Jack and Borna Barsic are all examples of players the Gers have signed for relatively conservative sums of money and could now sell for big, big money.
Obviously, we don’t want to see that happen but it just illustrates how well Ibrox is being run at the moment.
In other Rangers news, Alan Rough has made a claim about Gers and Celtic fans ahead of this weekend’s matches.