Rangers announced a reduced preliminary pretax loss

The Premier League club reduced loss from last year’s £29.61m to £5.94m and reported £72m long-term debt. David Murray commented in the chairman’s statement, on the long-term future of the club: “I am confident we are moving towards a sustainable base for the long term. Much of this reduction has had to come from the playing squad. Budgetary control is a key ingredient within any successful business. Our past ambition was financed by large capital investment and the promise of media revenues that did not materialized. We will however always attempt to field the best possible team operating within our available financial resources.”

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