Credit: Imago

James Barker

Sat 30 May 2026 8:10, UK

Andrew Cavenagh wants the prize money collected in Europe to fund Rangers‘ transfer spend moving forward.

It’s a year since Cavenagh and the 49ers Enterprises turned up at Ibrox ready to start a new era of Rangers ownership.

To say there’s been ups and downs since then would be an understatement, what with the Russell Martin disaster, Old Firm derby trouble and the team’s inability to stay in the Scottish Premiership title fight.

However, some quality signings were made across both the summer and winter windows, and they’re confident that Danny Rohl is the man to lead Gers to success.

But the German is largely going to have to construct his squad around the constraints of Rangers’ European prize money, as Cavenagh outlines his financial vision for the team.

What has Andrew Cavenagh said on Rangers’ financial plan?

Cavenagh has promised a summer of change for Rangers in the transfer market, with Rohl’s squad clearly needing a number of fresh faces to arrive over the coming weeks.

Of course, the Gers chief has already put his money where his mouth is in that regard, completing the exciting signing of Lawrence Shankland from Hearts.

Cavenagh and his 49ers ownership team are looking to turn Rangers into shrewd financial operators, who are looking to balance risk with reward in the pursuit of on and off-field success.

That being said, however, Cavenagh’s plans for how Rangers are going to self-sustain their transfer activity moving forward looks a risky one, as it’s set to largely rely on their European revenue.

“You guys have all heard me saying this but it’s about sustained winning and winning sustainably,” he said speaking via the Daily Record.

“That means that the club needs to be in a position where it doesn’t constantly need cash infusions. If it does then it’s not sustainable. We do think that there’s a point in the future where Rangers can be sustainable.

“I think about our business in sort of two pieces. There’s the income statement business which is ticket sales and shirts. That covers the cost of the staff, the players’ wages.

“There’s then the balance sheet business. You invest in players, you sign them and you hope that you are, in aggregate, selling them for more and you can re-invest those sums.

“These are different things to me. When I looked backwards at this club, the balance sheet business was always being asked to support the income statement business.

“I would like to see the income statement business become break-even, so that dollars going into the club are always going into the squad as opposed to more copiers or mowers or whatever.

“I think when we can get to that point the club is sustainable and then you gave the variable between those two will be European money.

“European money historically has been used to fund the income statement business. I would like the European money to be used to fund increases to the value of the squad.”

Why Cavenagh’s spending plan opens door to discontent

Cavenagh is wise and correct to wish for Rangers to become a self-sustainable football club: that’s the dream for all owners.

However, the big problem the 49ers will encounter with this financial spending strategy is the fact that Rangers are not currently a Champions League side.

The difference in prize money between competing in the Champions League and Europe League is vast, and if Gers exit the competition at an early stage, where does that leave them with money to put back into the squad?

Cavenagh hasn’t said that they won’t ever put more money in than just the European money won, but if that’s the premise of the plan, then they could cultivate a negative image of themselves from fans.

One that has the potential to paint them out as owners who aren’t willing to go above and beyond to make the side better, even if that’s not true, which it would be unfair to suggest is the case.

At the heart of it though is a funding plan that seems to rely on European prize money, and if you’re making little to none of that, then it remains to be seen how that would work.

Updated 24/7 with expert analysis from the heart of Govan.