Rangers Report Financial Improvement Amid Transitional Leadership

The group led by Andrew Cavenagh successfully completed the acquisition of 51% of Rangers’ shareholding on 30 May.

In their financial reports for the year ending June 2025, Rangers have posted a loss of £14.8 million, a notable decrease from the previous year’s loss of £17.2 million. This comes despite achieving record revenues of £94.1 million, which marks a 7% increase from £88.3 million.

The annual accounts reveal a 4% reduction in operating expenses, now totaling £92.2 million, alongside a pre-player trading profit of £2.7 million. This profit is a significant improvement, rising from a £2 million loss in 2023-2024 and a £10.5 million loss in 2022-2023.

Since their promotion from the Championship to the Premiership nine years ago, this is only the second instance in which Rangers have recorded a profit before player trading, the first being following their Europa League final run in the 2021-2022 season.

It is important to note that the player trading figures do not include transfer fees for players such as Hamza Igamane, Jefte, Ridvan Yilmaz, and Cyriel Dessers, all of whom were sold after the financial year concluded.

The annual report emphasizes, “We have achieved record revenues for the second consecutive year, reduced our cost base, and delivered a pre-player trading profit. This creates a more stable platform for reinvestment in both the team and infrastructure as we transition into the next phase of growth.”

The report further states, “While player trading remains an area for potential financial strengthening, recent sales post year-end indicate that investments from previous windows are starting to support our business model, instilling confidence for the future.”

As Rangers strive for financial stability after years marked by significant losses, their cash reserves have seen a remarkable increase from £1.7 million last year to £30.5 million, largely due to new financial backing from Cavenagh and his group of investors.

The report adds, “The equity investment completed in May provides us with a robust foundation for ongoing investments in the team, facilities, and long-term future. Our priority is to maintain this balance, investing in the football side while reinforcing the club’s financial stability over the medium term.”

Additionally, it is understood that the club is in the process of settling financial obligations to at least one, if not two, former managers—Russell Martin and Philippe Clement, the latter of whom has recently joined Norwich City. Including the current manager, Danny Rohl, and Barry Ferguson, who was appointed on an interim basis at the end of last season, Rangers have experienced a tumultuous period with four managerial changes in 2025.