Rangers FC have outlined the reasons behind their £14.8 million loss, even though they recorded their highest-ever income

Rangers reported a £14.8m loss for the year ending June 2025, down from £17.2m, despite record revenues of £94.1m, up 7% on the previous year.

Operating expenses fell 4% to £92.2m, producing a pre-player trading profit of £2.7m — only the second time in nine years Rangers have achieved this outside of their 2021-22 Europa League run. Post-year-end player sales further strengthen the club’s finances.

Cash reserves jumped from £1.7m to £30.5m following a new equity injection from owners Andrew Cavenagh and his investor group.

Rangers aim to balance team investment with long-term financial stability amid continued payments to former managers and a turbulent 2025 featuring four managerial changes.