Rangers still owe £78m to Ibrox investors – Chris Jack
Rangers still owe investors £78million after the club released their annual accounts, according to The Herald’s Chris Jack.
The Light Blues shared their annual accounts (9 November) with the club’s AGM set to take place on Tuesday 6 December.
Jack has suggested the club still owe a considerable amount to investors, with only “£22million” repaid to investors so far.
“More than £100million worth of investment has come from directors and shareholders over the last seven years. To date, £22million has been repaid,” Jack wrote in his latest column for The Herald (9 November).
Questions to be asked
Rangers’ Annual General Meeting on 6 December is a date for the diary for all of the Ibrox faithful, with the board set to face some tough questions regarding their handling of the club. For most Rangers fans there will be an acceptance that the board have stabilised the club financially. However, there’s probably a feeling that a little bit more ambition is required on the pitch to take the club to the next level.
The Gers should be dominating Scottish football and challenging in the Europa League knockout stages at the very least each season. Fans would have liked to have seen more ambition during the summer to give Giovanni van Bronckhorst the best chance of building on what the Light Blues achieved in the 2021/22 season.
Perhaps the news of money still being owed to outside investors may ease the pressure on the board slightly, with the club’s finances the top priority. Nevertheless, Rangers received some large transfer fees during the summer and answers will be required as to where that money has gone.
In other Rangers news, this former Premier League manager is a “standout” choice to replace van Bronckhorst if he’s sacked.