Rangers Report Financial Recovery Amid Ownership Transition

On May 30, Andrew Cavenagh’s group successfully acquired a 51% shareholding in Rangers Football Club.

The club’s financial accounts for the year ending June 2025 indicate a loss of £14.8 million, a decrease from £17.2 million the previous year. This comes despite record revenues of £94.1 million, reflecting a 7% increase from £88.3 million.

The annual report reveals a reduction in operating expenses, which fell by 4% to £92.2 million, and reported a pre-player trading profit of £2.7 million, up from a loss of £2 million in the 2023-2024 fiscal year and a loss of £10.5 million in 2022-2023.

Since being promoted from the Championship to the Premiership, this marks only the second occasion in nine years that Rangers have achieved a profit before player trading, the first being during their run to the Europa League final in 2021-2022.

It’s noteworthy that the player trading figures do not account for transfer fees received for players such as Hamza Igamane, Jefte, Ridvan Yilmaz, and Cyriel Dessers, all of whom were sold after the conclusion of the financial year.

The annual report emphasized, “We have achieved record revenues for the second consecutive year, reduced our cost base, and delivered a pre-player trading profit. This establishes a more stable foundation for future investments in both the team and infrastructure as the club progresses into its next growth phase.”

It further stated, “While player trading remains an area for potential enhancement in our financial performance, the sales realized post-year-end demonstrate that our strategic investments in previous windows are beginning to support our business model and instill confidence for the future.”

As Rangers strives for financial stability following years marked by substantial losses, the club’s cash balance has significantly improved, rising from £1.7 million last year to £30.5 million, bolstered by the new owners’ financial injection.

The report noted, “The new equity investment completed in May provides a solid foundation for continued investment in the team, facilities, and our long-term vision. Our aim is to maintain a balance between football investments and fortifying the club’s financial stability over the medium term.”

Additionally, it is reported that the club is still managing the financial obligations associated with at least one, and potentially two, former managers—Russell Martin and Philippe Clement, the latter having joined Norwich City this week. With the current manager, Danny Rohl, and Barry Ferguson, who served in an interim capacity at the close of the last season, Rangers has experienced four managerial changes in what has been a tumultuous 2025 season.

For ongoing updates, analysis, and fan perspectives, visit our dedicated Rangers page.