Football finance expert Kieran Maguire has said that while Rangers posted losses of close to £16m in their latest accounts, the results “exceeded his expectations”.

He also said that in terms of day-to-day losses, Rangers actually lost less than Celtic.

Celtic sold Kieran Tierney to Arsenal and that was the only reason they recorded a pre-tax profit of £100,000.

Talking in the Athletic Maguire said, “I’d never be comfortable with any club losing money, as all it takes is for the owner to get hit by a bus and then they’ve got a big problem.

“You only have to look at Chelsea, who are wholly reliant on (Roman) Abramovich, who put in £250 million last year.

“That’s always a risk but Rangers have more than one high-net-worth investor, which helps spread that risk and I think they know there is light at the end of the tunnel.”

And there is a huge windfall waiting for Rangers if they can qualify for the group stages of the Champions League.

Maguire said, “We’re talking £30 million for getting into the group stage, and then you’ve got three sold-out (group) matches at Ibrox.”

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Champions League the aim

There’s plenty of light at the end of the tunnel.

Losses were expected this year with Rangers really reliant on gate money.

However, revenue was up by 11%, sponsorship up by 13% and “season ticket income and hospitality were up by £1.2 million and £700,000”.

But the real light is the Champions League. While Celtic sold a player to balance the books, Rangers have been strengthening with the Premiership title and the group stages of the Champions League the aim.

They’re both looking very good at the moment.

Rangers are 11 points clear at the top of the league and with Scotland at number 11 in UEFA’s coefficient table, there could be an automatic spot up for grabs.

That, according to Maguire, is the “Xanadu for clubs in a country which has the resources of the SPFL broadcasting rights.”

It’s a calculated gamble that’s backed up by investors who are Rangers fans and have footballing interests at heart.

That’s the big difference between Rangers and other clubs and everything is pointing in the right direction.

The news that football fans are going to be let back into stadiums in England is a huge step in the right direction as well.

In other Rangers news, ‘Unless someone bids £50m’ – Exclusive: McLeish drools over Gers ace who could attract mega-bid

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