Sport
Rangers chief provides ‘important’ FFP update at Ibrox in new Everton verdict
Rangers Chief Financial Officer James Taylor has explained the club’s position in regards to UEFA rules and Financial Fair Play after what happened to Everton and Nottingham Forest.
Both Premier League clubs were charged with breaches of financial rules, leading to increased scrutiny on all top clubs, but Taylor has clarified the club have a strong relationship with UEFA and are complying with the rules.
He did, however, suggest that given the level of media revenue in England compared to Scotland, Rangers cannot be compared to the likes of Everton, Forest, Fulham or Brighton.
Speaking to the Four Lads Had a Dream podcast [12 February], Taylor shared: “From a monitoring standpoint, there are three pillars and we’re effectively covered by all three. Firstly is overdue payables so we need to ensure there are no football debts outstanding. Transfer fees, contingent transfer fees and what have you.
“The second is around football earnings and what you’d typically define as FFP, what you’d see down south in Everton and Nottingham Forest, and that’s in terms of the losses over a period of time.
“You take your number on a profit and loss basis and add back a number of investments. You have a tolerable level of €5million so make sure you’re within that. Certainly, in the numbers we posted last year, we were within that, so we’re comfortable with that. That’s one you need to keep an eye on moving forward.
“A club like Rangers in the environment it’s in from a commercial angle is different to a Fulham or a Brighton. To anyone down south because of the value of the media revenues we have here vs those down in England, if we have a good or really bad European season can significantly impact some of those football earning issues. It’s important for us when we’re making investments that it’s on a sustainable basis.
“From a UEFA standpoint, we feel that as a football club, we’re progressing. We’ve got a good relationship with UEFA and that’s important to maintain in future.”
Rangers will be extra careful with their financial position
The situation regarding Everton, Forest, and other clubs in the Premier League looks to be far from what Rangers are at risk of, which will come as good news to the fans, however, they do need to keep an eye on their situation.
The club announced over five years ago that it would look to be self-sustainable within two years, and that is still not the case despite calls prior to their AGM in December to change their course as they cannot continue to flout their financial goals.
However, it does appear they are in a strong position financially which will come as music to the ears of Gers fans, who are always deeply concerned with the club’s finances after what happened to them previously.
Football finance expert Kieran Maguire shared recently that Rangers’ matchday revenue and income are at least on par with the top-six clubs in England, with the huge difference being the media income, and that has now been clarified by Taylor.
Qualification for UEFA competitions is crucial for Rangers and their income, and that strong relationship and commitment to working with the governing body should serve them well in years to come.
