Rangers unveil plan to save £10m as Ibrox finance boss makes transfer budget vow

Rangers unveil plan to save £10m as Ibrox finance boss makes transfer budget vow

Rangers chief financial officer James Taylor has laid out ideas for how the team will break even during the upcoming

five-year financial cycle.

In the club’s most recent set of finances, the Ibrox team revealed a £10.5 million pre-player trade deficit, a figure that

chairman John Bennett acknowledged needed to be adjusted. In contrast to £919,000, Gers reported a net loss of

£4.1 million for the year that ended June 30, 2023, despite posting a comparatively modest operating profit of £250,000.

And although he acknowledged it would take some time, Taylor, who was named chief financial officer in August of

last year, has revealed how the Glasgow giants want to become self-sufficient in the upcoming years.

“There are a number of different facets around how we make that go away,” he said to the Rangers Review. That is a

difficult goal, to be sure, as you will see by watching a variety of different football teams, but it is one that we as

executives and a board should set for ourselves and one we are confident we can meet.

“We believe we are on the right track, but it will probably take the first part of the strategic cycle to truly execute on

that and deliver on that consistently. We are witnessing the results of the adjustments we made throughout the first

four or five months. However, it will require some time to ensure that we have that figure going forward and to eliminate the £10 million.

The Gers spent over £20 million on fresh summer additions, and they will also need to pay £4.5 million for January

loanee Mohamed Diomande. Oscar Cortes, a promising player for Lens, may also make a permanent move thanks to

the Govan outfit, and Taylor has promised that the board will keep transfer money for Philippe Clement available.

He said: “In terms of the cash position, again we have made a number

of sales in recent years and you referred to the

timing of transfer fees, whether it be three or four instalments or whatever it may be, and again that is no different.

We have still got, as we mentioned, Joe Aribo and Calvin Bassey just recently.

“Once more, there are monies there that we plan to use to strengthen the team. The financial benefit is distributed

over several years, even if we only recognize it in one. As I have stated, it is crucial that the football board and the

financial sector work together closely, and as time goes on, I believe we will start to recognize the advantages and

benefits of that football board.

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