The Rangers Football Club Ltd. has announced losses of £18.1m in the 13 months to June 2013. It should be noted that there is a complex corporate structure at Rangers and more information can be found here.
The Rangers Football Club Ltd. has announced losses of £18.1m in the 13 months to June 2013. It should be noted that there is a complex corporate structure at Rangers and more information can be found here.
99 per cent of the turnover of £17.7m was accounted for by wages, which is a worryingly high figure. 10 per cent of that is paid to directors which is higher than normal for a football club. Two directors who left the club during the year received payments totalling £468.000.
Accountants Deloittte added a note to the accounts stating that there was material uncertainty which may cast doubt on the ability of the company to continue as a going concern.