Mark Warburton continues to be limited in transfer spending at Ibrox. But Rangers fear following in Leeds United footsteps once again.
Rangers chairman Dave King has made it clear that the club will continue to be sensible in their spending, as the Glasgow club look to avoid following in the footsteps of Leeds United and heading down the path of financial ruin.
The Ibrox side have only recently returned to the Scottish Premiership after forced demotion amid a financial crisis at the Glasgow club under previous ownership.
Rangers chairman Dave King
Now Rangers are in the top-flight they are struggling to cement themselves as challengers to Old Firm rivals Celtic – with a vast gap in the monetary clout of both clubs.
King has been urged by many a Rangers fan to find more money to fund transfer deals at the club but he insists they will remain strict financially, insisting spending to find success can lead to disaster – as it did with Leeds United. He is quoted as telling the Rangers AGM, as reported by the Daily Mail:
Alan Smith - Leeds United is mobbed by fans after his last game for leeds at Elland Road
“The second danger is the risk that the board tries to buy success on the pitch by committing financial resources beyond the long-term natural potential of the revenue base of the club – often in the process borrowing money against future revenue streams.
“Such an approach is financial recklessness and most certainly does not qualify as prudent temporary deficit funding while the natural potential is being re-established.
“A classic example of such folly was Leeds United. A few years ago, Leeds purchased short-term success by investing heavily in football resources beyond the financial sustainability of the club. This led to the short-term euphoria of reaching the Champions League semi-finals followed shortly thereafter by the disaster of administration.”
Leeds team photo, Barcelona v Leeds 2000
Leeds of course spent millions on trying to maintain good form in the Premier League but soon found themselves haemorrhaging money, selling off their biggest stars for peanuts and dropping out of the Premier League. At present, they have not yet returned.
Rangers fans will not want to go through such financial turmoil again and Leeds fans can vouch for the dangers of overreaching for glory.