Rangers spent £21 million in the summer transfer window, according to John Bennett, as Michael Beale’s previous comments are scrutinized.
“Rangers Chairman, John Bennett, Unveils Eye-Opening Summer Spending Figures
Following the release of the latest accounts, Rangers Chairman John Bennett disclosed the club’s financial standing, securing a marginal £252k profit for the second consecutive year. In the midst of ongoing discussions about player trading and the imminent appointment of a Director of Football, Bennett shed light on the substantial investments made during the summer.
While the official annual report didn’t include these figures, Bennett took the opportunity to clarify the extent of the summer spending. “The financial performance, combined with new investments from last year, allowed the Board to heavily invest in both the Men’s and Women’s squads, as well as the Stadium,” Bennett explained. A noteworthy squad investment of £17.5 million in the reviewed year, combined with £7.5 million from the previous year, was further supplemented by an additional £21.0 million spent in the summer transfer window after the year-end.
Rangers’ significant summer expenditures have been a hot topic throughout the season, and now, with Bennett’s revelations, the club’s financial strategy comes into sharper focus. The summer transfer window witnessed a massive turnover, marked by the departure of several experienced players at the end of their contracts or through transfers.”
Rangers also lost Antonio Colak (Parma), Glen Kamara (Leeds United), Fashion Sakala (Al-Fayha), and Ianis Hagi (Alavés, loan) to other teams while contracts expired for Allan McGregor, Filip Helander, Scott Arfield, Ryan Kent, and Alfredo Morelos.
As a result, Rangers’ summer investment was always going to be substantial, but the price of £21 million caught many people off guard. Rangers signed nine senior players this summer, with John Bennett’s words likely referring to a combination of transfer money, player contracts, and agent fees.
Rangers signed four players on pre-contracts in the summer, including Jack Butland from Crystal Palace, Kieran Dowell from Norwich City, Dujon Sterling from Chelsea, and Leon Balogun from QPR.
The Gers then spent a lot of money on Sam Lammers (Atalanta), Cyriel Dessers (Cremonese), and Danilo (Feyenoord), while Jose Cifuentes came for a fee from LAFC after signing a pre-contract. In a pricey summer transfer window at Ibrox, the club also recruited Abdallah Sima on loan from Brighton.
The comments about Rangers’ summer spending have also sparked some discussion over Michael Beale’s furious attitude to journalists when his new signings struggled to make an impression.
John Bennett’s claims that the reported payments involved were “miles out” appear to contradict Michael Beale’s comments before he was terminated at Ibrox.
The Rangers manager said at the time that the club spent a total of £13 million on all nine players.
Friendly media also claimed at the time that Rangers had a net spend of roughly £6 million in the summer, and we’ll have to wait until the next annual report to learn the full amount of the previous window’s business.
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