Rangers’ annual accounts say they have only received £800,000 in transfer fees in the period since June 30 – a curiously low figure considering the sales of Sam Lammers, Todd Cantwell and Connor Goldson were among those accounted for in that time.
The annual financial figures were headlined by the eyebrow-raising pre-tax loss of £17.2m which occurred despite record revenue of £88.3m. Their monumental wage bill, which has since been slashed dramatically, played a big part in that, as did transfer fees in the Michael Beale era which saw them register a £7.9m player trading deficit.
Since then they’ve cut the cloth where the playing squad is concerned with big earners like John Lundstram and Kemar Roofe replaced by younger talent on lower wages, such as Connor Barron and Jefte who they hope will have resale value and stimulate the trading model in future. For now, however, the club are having to eat the cost after previous sellable assets dried up.
A curious note further down in the accounts covers ‘post balance sheet’ events – transactions that occurred between the end of the accounting period (June 30, 2024) and the time of publishing (October 29, 2024). Rangers say that in that time, they ‘disposed of five player registrations on a permanent basis,’ for a total of £800,000.
The five players who left after June 30? Sam Lammers, Todd Cantwell, Scott Wright, Connor Goldson and Robby McCrorie.
Now that raises obvious eyebrows considering the reported fees for those players were much higher than is stated in the official document. But Record Sport understands that much of the fees received went directly to the players to cover the remainder of their contracts.
The same section notes 10 player acquisitions in that period for a total of £13.4m, and that roughly squares with the figures that were reported for Nedim Bajrami, Robin Propper, Hamza Igamane and others during a busy window that saw a complete overhaul of the squad.