Acronym-tastic

Rangers' losses have largely been covered by owner funding, with £11million funding from existing shareholders in 2024-25. Further £20m equity invested as part of takeover by 49ers Enterprises and Andrew Cavenagh in May

Club has received £160m owner funding since 2012 rebirth

Rangers have hardly skimped on transfers, spending £129million on new players in the past decade (£75m net)

Represents another key difference with Celtic, who spent £186m on new players between 2015-16 and 2024-25 but crucially recouped £195m in sales for £9m net transfer income

Celtic's financial advantage driven by ability to generate much higher revenue: Celtic's £143.6million in 2024-25 was £49.5m higher than Rangers

Celtic enjoy higher revenue across all streams:
• TV money £21m higher (UCL v UEL)
• Gate receipts £15m
• Commercial and other £13m

Reduced 2024-25 loss came on the back of record £94.1million revenue, up seven per cent in the year, that growth driven by a new catering partnership agreement

Rangers' wage bill fell six per cent to £58m, leaving wages to turnover metric at 61 per cent, an eight-year low

Rangers have been consistently unprofitable since 2012 rebirth, small surplus only arising that year due to £20.5million accounting adjustment

Since then, bottom line losses have generally tracked to underlying operating losses, with 2022-23 an outlier (£24m player sale profits)

Thank you and yes, I don't think what's been brought in goes nearly far enough to fixing some big problems. I'm not sure anchoring would have either to be honest, but the outrage it was met with nearly sums things up!

Extremely offline: what happened when a Pacific island was cut off from the internet

www.theguardian.com/news/2025/se...

One anchoring worry is it would hamper ENG clubs in Europe. It's valid, and may hold greater weight in the future if the PL TV deal growth slows or even reverses

But right now? Hardly any Euro clubs would have a squad cost limit higher than proposed maximum under anchoring

The politics of tomorrow's votes are so intricate, there's a possibility nothing changes - with Profit and Sustainability Rules (PSR) left in place

Yet a decade of evidence shows PSR is unworthy of its name: the English pyramid lost over £6billion even with PSR in operation