After what occurred to Everton and Nottingham Forest, Rangers Chief Financial Officer James Taylor has outlined the club’s stance on UEFA regulations and Financial Fair Play.
Although Taylor has stated that the club has a great relationship with UEFA and is complying with the laws, both Premier League clubs were charged with violations of financial rules, which led to increased scrutiny on all top clubs.
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.
Taylor has now highlighted what football financial expert Kieran Maguire recently stated, saying that Rangers’ matchday revenue and income are at least comparable to the top six clubs in England. The major distinction is the media income.
Rangers’ financial success depends on their ability to compete in UEFA competitions, and their solid working relationship and dedication to the organization should benefit them for many years to come.
