Stewart Robertson highlights three 'pillars' of Rangers finances and the one they must improve in near future

Rangers managing director Stewart Robertson hailed ‘three pillars’ of the club’s financial income over the past year but does admit they need to begin bringing in significant money through player sales in the next 12 months.

Rangers managing director Stewart Robertson. Picture: SNS

Robertson was speaking at the club’s AGM on Tuesday morning. The Ibrox side posted a loss of £11.3million in their last financial results but turnover was up 63 per cent.

With Steven Gerrard’s side top of the Scottish Premiership with a 13-point lead over rivals Celtic, the mood around the club is certainly brighten than it has been in many contentious AGMs of the past.

Robertson pointed to ticket sales, especially in light of the pandemic, commercial revenue and the bonus of European football as a reason for the rise in income. Though he did stress that they will have to start making money from transfer fees in the near future.

He told shareholders: "Season ticket income nudged up by over £1million, and the fans, as ever, and as they have done over the last number of years, have stood by us.

"To have sold out our season tickets, last year was remarkable, but to have sold out again this year is remarkable, so that is a nice increase there.

"Our commercial revenues are growing at a pace at the moment, which we are delighted to see as well. James Bisgrove joined us almost 18 months ago now and has grown the team there.

"Our third pillar is our European income, and I think it is one where we saw the largest growth in the 19/20 accounts due to our run in Europe and getting to the Last 16.

"That was fantastic, and demonstrates how important regular participation in the group stages and latter stages of Europe really is to us.

"The last pillar is player trading. We don't have much at all in the way of player trading, but what we do have now that we haven't had to the same extent is a real value in the squad.

"We know that in time, and as a key part of our business model, is that we have to facilitate an increase in income by trading players.

"We know that is the fourth pillar we have to really focus on over the next 12 months."

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