Finance expert details new Rangers record as £9m rise emerges in Ibrox document
The wage bill of the Rangers squad rose by £9million during the 2022/23 season, according to The Swiss Ramble.
The finance expert reported on Friday (17 November) that the increase took the Gers’ wage costs up from £55million to a record £64million after the club’s annual report was released on Monday (13 November).
It said that marked a 17 per cent rise from the previous campaign despite the Light Blues’ revenue falling from £87million to £84million.
Hefty
It is quite a hefty wage bill that Rangers managed to build up last season after the players were paid out £9million more than the previous campaign.
The eight signings the Gers made last year as they looked to close the gap on Celtic at the top of the Scottish Premiership may have played a role in the increase.
As players’ wages continue to rise across football on the whole, it’s no real surprise to see the club’s outgoings on that front increasing as well.
But there is a chance that it could fall again ahead of next year’s accounts being revealed after a number of high earners left Ibrox over the summer following Michael Beale’s overhaul of the squad.
It largely depends, though, on what terms the nine latest arrivals were handed as the former Gers boss was largely given an open chequebook to bring in the players he wanted to sign.
In other Rangers news, a Champions League club are looking to sign one Ibrox star.