Rangers FC has disclosed the settlement amount in their annual accounts, revealing that it stood at £3.8 million on June 30, 2024. The club’s report states that this settlement relates to a retail arrangement and payments are being made annually towards it.
Additionally, a provision has been included in the accounts to reflect the amounts payable under a further settlement agreement related to a subsequent retail arrangement. This settlement is also payable in instalments, with the final payment expected in September 2029.
Moreover, the club entered into a settlement agreement with a commercial partner during the year under review. This settlement is payable in three instalments, with one already made and the remaining balance included in other creditors.
The Operational Report section of the business review highlights the reduction in the club’s wage bill amidst the ongoing squad rebuild. The report mentions that the first team squad cost has been reduced by £2.5 million and is expected to decrease by a further c£6 million in the next year following the Summer 2024 transfer activity.
A strategic review of the player trading model was conducted after Nils Koppen joined the club. The focus has been on reducing the age profile of the squad, aligning the first team wage budget with the business model, and enhancing squad value through the acquisition of top-rated young talent.
It is emphasized in the report that delivering on the player trading model is crucial for the future success of the club. The efforts to realign costs across the business, particularly in the first team squad, demonstrate the club’s commitment to financial sustainability and long-term growth.