Rangers CEO lifts lid on January window plans, Hamza Igamane stance, why squad is good enough and club finances

Rangers chief executive Patrick Stewart invited members of the media to Ibrox on Saturday morning to address various issues around the Ibrox club.

The position of manager Philippe Clement was number one on the agenda with the embattled Belgian confirmed to have received the backing of the board with the caveat that results must improve.

Stewart also announced that an external review into the football department will begin on Monday in a bid to address "deep-rooted" issues at Ibrox while he also gave updates on January transfer window plans, the current squad, and the club's financial position.

Here are the five key takeaways from Stewart's sitdown:

Rangers chief executive officer Patrick Stewart. (Photo by Craig Williamson / SNS Group) | SNS Group

January signings

Stewart confirmed that there will be one or two additions at most as he dampened supporters' expectations of an influx of new recruits this winter.

"It wouldn’t be as many as three or four, no. We’d be looking at one, possibly two. Injuries have created challenges but they’re returning and that will bolster the squad without us having to panic buy.

"There have been some exceptions but the January window generally isn't a particularly fruitful window. Most clubs do not want to sell their best players. It’s a very low likelihood that top quality players are going to be on the market. Even if we can secure a player that fits the profile, bringing them in in January means there's no time to bed them in.

“There is still a benefit to the January window so I'm not saying it's a complete dead loss. I think there are a couple of scenarios where it can be really effective.

“Firstly, where you know a club has suffered injuries such as we have - particularly at centre-back - it is an opportunity to make a reactive signing. This is a position we've been looking at since December and so we have been active in discussions.

“We're going to be really disciplined in our approach and we will walk away from a deal if it's not right.

“The second scenario where the January window can work is to accelerate the signing of a player that we were planning anyway. So that does provide an opportunity and again that's something that we're focusing on just now."

Rangers striker Hamza Igamane with the match ball after scoring a perfect hat-trick in the 3-3 draw with Hibs. (Photo by Ross Parker / SNS Group) | SNS Group

Hamza Igamane

Stewart confirmed there are no plans to cash in on the Moroccan striker in the current window amid rumoured interest form English Premier League clubs including Everton, West Ham and Newcastle.

"We don't want to sell Hamza in January, we want him to be here for the second part of the season, I'll be very clear on that. I think I would be told it was irresponsible if we sold a player. There's always a balance, but January is not typically a window in which those sorts of transactions take place. We're always, as a board, going to be looking at the long-term and striking a balance in the long-term. That's our duty, but Hamza's only came into the team and started scoring, and we want him to be here for the second part of the season, as I'm sure all the supporters do as well."

January departures

While Igamane will not be sold, Rangers could look to offload some of their underperforming players in the January window, with misfit striker Cyriel Dessers expected to be moved on.

"January is not just about bringing players in, it's also an opportunity to move players on. Again I just want to be clear we are not intending to sell any players that are contributing on the pitch. That is not within our plans. There are other players though that for one reason or another are not getting much game time and we're having discussions with them and their agents to see if there's a kind of win-win solution there."

Current squad

Put to him that Rangers current squad is not good enough given the points deficit to Celtic, Stewart insisted that consistency is the issue, not the standard of player at the club.

"If you look at the squad, when you've got players that are fit and playing at their peak, then the team has shown it is good enough. Consistency is the reason. The players are clearly good enough. You don't beat Celtic 3-0 at Ibrox, you don't beat Nice 4-1 away from home, you don't go toe-to-toe in a cup final and many would say the team should have won, you don't draw against Spurs with players that aren't good enough. But consistency is an issue and I've acknowledged that. It's clear that that team is capable of going against the very best teams. We also need to make sure we're consistent week in week out and that is the challenge. I've not ducked from that so I accept there's been inconsistency and we've got to address that."

Patrick Stewart, centre, started work Rangers as CEO last month. | SNS Group

Club finances

Stewart attributed much of the £17.2m loss posted in Rangers' accounts for season 2023-24 to transfer fees spent on players signed by previous managers.

"Until this summer my observation, I don't think many people would disagree, is that in recent years we've been focused on quick fixes. The board has backed the manager when it comes to signing players and then the next manager and then the next manager after that. So let's take a step back and look where that's left us. I've already mentioned the last set of financial figures. We are running at a loss, so for great revenue last year, we made a £17m loss.

"The vast majority of that loss arises from transfer fees that the club committed to in transfer windows pre-dating summer 2024, for players are either no longer with the club or they are but they're not getting many minutes. That's frustrating for everyone. I want to acknowledge that shareholders have shown unwavering support in covering those losses in recent years but we'd be absolutely failing in our duties to the club if we just hope for the best year after year that shareholders would continue to cover losses that you know we have essentially managed our way into.

"My ambitions are to create a club that's financially sustainable, but also sustains success on the pitch. I'm not saying we need money to do X, Y, or Z. My job is to make sure we're well run, and so that we are using all the revenue we've got really smartly. That will involve making decisions about how we use the money, and there'll be some things we can do, there'll be some things that we can't do. That's not just on the football side, that's across the board, including in things like how do we invest at Auchenhowie? What's the best facilities to invest in?

"How do we best invest in the stadium? Everything is joined up, and we've got to look at everything from a holistic perspective. I'll certainly be making recommendations, and hopefully very strong recommendations, for the board to endorse. We've got good revenues, but we also need to use those wisely in every decision we make.

"I don't want to be in a position where we're relying on existing shareholders or external shareholders putting their hand in their pocket. That's very different from looking at long-term investment. Every club in the world, bar a couple that are lucky to be owned by the state, is looking at long-term finances, so of course we're doing that."