Ibrox works could cost tens of millions as Rangers news emerges – Finance Expert
We’re delighted to welcome football finance expert Dr Daniel Plumley as our exclusive columnist. Each week he’ll be giving his views on the biggest talking points at Rangers...
Dan Plumley has insisted that expanding Ibrox to 70,000 capacity could cost Rangers tens of millions after potential future plans were revealed.
It was shared by the Glasgow Times on November 7 that the Rangers board are set to consider the “huge” plans which could see up to 10,000 seats added.
The finance expert shared that given Tottenham’s new stadium cost £1billion, you can scale down from that price with big financing needed for plans such as this.
“It’s not cheap,” he exclusively told Ibrox News.
“No stadium expansion is, you are always looking at ballpark figures but it costs Spurs £1billion to build a brand new stadium, Everton’s cost for a brand new stadium is running into the £500millions, and you can scale down from that.
“You’re looking at, at least tens of millions to put 20,000 seats on and do some significant work, so that is ballpark, it may be more it may be less but it’s still a significant investment.
“Of course, the benefits of that in the long term will outweigh that cost, especially for a club like Rangers if you are serious about doing that, you can see the potential down the line.
“The fan base is always going to be there, and likely they will always be there they will be competing in Europe more often than not and the wider appeal of Rangers as a club, I think the play is a good one as a long-term strategy, but it doesn’t come cheap.
“That’s where you’ve got to see the reward and that return on investment down the line and a lot of clubs are now looking at that as well, modernising stadiums, adding capacity, looking at what you can do with the stadium outside of a traditional matchday, how can you monetise that?
“There is a real financial aspect to that and it’s right that clubs are looking at doing so, but in the meantime, you’ve got to pay the bill for it and it doesn’t come cheap.”
In other Rangers news, Plumley has insisted that the club can argue they have missed out after a £900m+ deal was signed off
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