By Graeme Hanna

13th Apr, 2023 | 7:10pm

£12million bill to impact Rangers transfer spending as money gone - Four Lads

Rangers summer transfer plans could be impacted by significant financial information that came to light this week, as highlighted by Four Lads Had A Dream.

A key finding was that the overall costs for the New Edmiston House project has risen to a mammoth £12million.

Further investigation of the subsidiary accounts shows that the money received from the transfers of Calvin Bassey and Joe Aribo is gone, according to the same source.

NEH is an asset owned by Rangers which acts as a fanzone on a match day as well as housing a cafe and two-storey club store. It also hosts music gigs and other events, outside of its main remit around games.

As stated by Four Lads, the initial outlay was anticipated to be around £5-6million but global events, inflation and the cost of materials have seen that figure soar.

In regard to the landmark sale of Bassey to Ajax as well as the move to Southampton for Aribo, the blog reports the following.

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“The cost therefore of our summer signings (£15m), Raskin, Cantwell and the removal of the management team was £0.9m more, after accounting adjustments, than we received from the sales of Bassey, Aribo and Itten.”

Recruitment requires near perfection

The quoted detail above is definitely a worry given the supposed breakthrough transfers which heralded a player trading model as well as reaching the Europa League Final and then qualification for the Champions League.

It points to a stark waste of finite resources from Rangers perspective, especially on the playing squad at a time when another rebuild is required for Michael Beale, ahead of next season.

In the quest to stage a proper title fight, there will need to be almost perfection on player recruitment in the next transfer window. There can be no repeat of spending £10million plus on Ridvan Yilmaz, Rabbi Matondo and Ben Davies who have not delivered on the investment, to varying extents.

With Ross Wilson leaving the club for Nottingham Forest, the responsibility of the transfer window will fall on the shoulders of someone else, not yet confirmed.

The scale of the challenge ahead for Rangers, on and off the pitch, is massive but that is the reality.

In other Rangers news, McGowan speculates Rangers replacement for Ross Wilson ‘already on the premises’ in Glasgow