In the same week as it was confirmed that there would be an OLD-FIRM return in the Scottish Cup semi final, there was more good news for RANGERS fans to cherish.
Remember this?
The Ibrox club have posted an operating loss of £500,000 for the six months to December last year and chairman Dave King is forecasting a brighter financial future.
Rangers International Football Club plc today released results which show revenue for the final six months of last year rising from £1.9 million to £11 million, with most of this being down to increased ticketing and hospitality sales.
The £500,000 loss is a great decrease from the £4.6 million this time last year as operating expenses reduced by £2.2 million. this figure excludes player registration fees.
Whilst RANGERS have taken £9.25 million in loads from investors to December 31 last year, the statement confirms that additional funds have been committed to cover the balance to June 2016.
It has now been a year since King, Paul Murray and John Gilligan took control at Ibrox and the chairman provided an update to supporters revealing how please he is with progress on and off the park.
Twitter: Rangers International Football Club PLC Unaudited Results for the six months to 31 Dec 2015 https://t.co/OtwtFhIHm5 https://t.co/A01K4ouYeL (@RangersFC)
King revealed:
“The Club continues to require funding to meet its ongoing cash shortfall.
Twitter: King: “Yesterday was the first anniversary of regime change & provides the ideal opportunity to give an update” https://t.co/BK53t2uuqe (@RangersFC)
“This has largely been provided by me and the 3 Bears, however we have recently spread the investor base by securing a portion of the required investment from a group of Hong Kong based supporters. I will continue to look for like-minded investors who can share the financial burden.
“The recent history of Rangers has shown that it is better to have more investors than few. Hopefully, in time, we will see the broad-based supporters group having an increased stake in the Club.
“I am also pleased to report that Rangers now has no third-party debt whatsoever. There are not many Clubs in the world that are in that enviable position.
“Thank you again for your support. We are now approaching the business end of the season and we look forward to completing the journey back to the top together.”
