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Rangers pull profit, but debt rises
Scotland - 22 February, 2008
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Scottish Rangers have pulled down a GBP 3 million profit, but the club's debt has risen.
Chairman David Murray said the debt was up from GBP 16.5 million, the last recorded amount. Rangers had brought that down from GBP 74 million in 2004.
Turnover for a six-month period increased by GBP 10 million to GBP 33 million. Champions League participation was cited for that jump. The accounts also do not factor in Alan Hutton's GBP 10 million transfer to English Tottenham Hotspur.
Murray has tied the team's fortunes to staying in Champions League play.
He also confirmed plans to redevelop Ibrox. The club is looking at capacity expansion and renovations in the surrounding community.
Chairman David Murray said the debt was up from GBP 16.5 million, the last recorded amount. Rangers had brought that down from GBP 74 million in 2004.
Turnover for a six-month period increased by GBP 10 million to GBP 33 million. Champions League participation was cited for that jump. The accounts also do not factor in Alan Hutton's GBP 10 million transfer to English Tottenham Hotspur.
Murray has tied the team's fortunes to staying in Champions League play.
He also confirmed plans to redevelop Ibrox. The club is looking at capacity expansion and renovations in the surrounding community.
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