Rangers announced a loss of £14.3million for 2018.
Rangers have published their annual financial results and it makes for grim reading, as the club posted losses of £14.3million for the financial year of 2018 – and Michael Stewart has delivered his verdict on Twitter.
The Gers have been known for their difficulties in the financial department over the last decade, with the liquidation of 2012 seeing Rangers having to rename the club and start in the fourth tier of Scottish football.
Since then, chairman Dave King has worked hard to keep Rangers stable and bring them back into the top tier of Scottish football, with the club now seemingly afloat.
The 63-year-old gave his verdict on the £14.3million loss on Rangers’ official website: “Figures can be reviewed in various ways but the underlying and strong message is that Rangers, as a football club and business, continues to move forward.”
But BBC Sportscene pundit Stewart does not agree, posting on Twitter a worrying verdict for Ibrox fans by stating that such a loss is “not great or sustainable”.
Rangers brought in 15 new players in the summer under new manager Steven Gerrard, spending big on the likes of Connor Goldson, Nikola Katic, Borna Barisic and Eros Grezda – which could be a reason for the club’s losses.
The Gers failed to beat Kilmarnock on Wednesday night and sit in fourth place in the Scottish Premiership table, four points behind Celtic and eight behind leaders Hearts.
They are next in action on Saturday afternoon, as they travel to Paisley to face newly-promoted St. Mirren.
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