Rangers announce operating losses of £14.4million in their annual accounts   

Tuesday 1 October, 2013

The Daily Record reports on the first annual accounts posted by The Rangers International Football Club PLC:

Rangers International Football Club plc announced revenue of £19.1million and staff costs of £17.9million.

The club, who raised £22million through a share issue in December, revealed they had £11.2million cash in the bank on June 30, £4.5million of which came from season-ticket sales.

The accounts, which were released this morning, also showed former chief executive Charles Green received a whopping salary of £933,376 for the 13 month period ending June 30, 2013.

Manager Ally McCoist took home a pay-packet of £825,858 for that period, while finance director Brian Stockbridge received £409,308.

Almost £1m for McCoist to manage a team in the lowest ranks of Scottish football, with playing staff costs of almost £8m.

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