People keep throwing around a £25m squad-cost number and expecting it to be gospel. Trouble is, you can’t just lift Turnover, First Team Salary and Player Amortisation straight from the accounts and call it a day. The accounting and the rules around what counts are more awkward than that.
Turnover isn’t what it looks like
Our last reported turnover was £94m — but that figure isn’t all usable for the squad-cost ratio. Income from player sales can’t simply be added in full. Only the net profit from disposals is allowed back into the calculation, so the headline turnover needs trimming. That one adjustment alone knocks the usable turnover down by around c£8m. It matters. You can see why the £25m claim inflates the real picture.
Amortisation and hidden costs change the maths
There are other adjustments, too. Transfer fees are amortised across contract length, which spreads the cost but also interacts with wages in the ratio. And the annual accounts don’t always spell every player-related cost out clearly — bonuses, signing fees or other club payments sometimes need manual inclusion. Add those back into the salaries and amortisation lines and the percentage shifts further from that simplistic figure.
Why we’re actually in a decent position — for now
To be fair, where we are now is stronger than a few years ago. The wage bill has been reduced steadily and the club has been smarter with amortisation, which helps create compliance room. Sales like Igamane and Jefte produced proper profit and gave the club wriggle room to operate in January. But that flexibility was largely spent, so unless we generate more meaningful sales we'll be needing another sizeable disposal to create fresh capacity.
In short: don’t take the £25m headline at face value. The truth is messier, and the sensible way to look at it is to strip out sale income correctly, add back those hidden costs and remember amortisation’s effect. Fans can be calm about the broad direction — but realistic about the need to keep balancing the books.
Related Articles
About Rangers News Views
Rangers News Views offers daily Glasgow Rangers coverage including match reaction, transfer analysis, SPFL context, tactical breakdowns and opinion-led articles written by supporters for supporters.
