Rangers will post AGM profit as club insist no 'external debt' from Gio and Beale sackings

The Ibrox club are set to release their accounts for the year ended June 2023 imminently.

Rangers will announce a profit for the second season running when they release their annual accounts later this month, revealed Ibrox chief executive James Bisgrove.

And Bisgrove insists the club has no debt following the axing of both Giovanni van Bronckhorst and Michael Beale in the space of just 10 months with Philippe Clement appointed last month to lead the club forward. Bisgrove was quizzed at a Fans’ Forum on whether the club was left counting the cost of bulleting both Van Bronckhorst and Beale just a year into three-and-a-half year contracts.

But he told supporters at New Edmiston House: “In the next week or two we will release financial results and we will record a profit for second successive season. The departure of previous managers hasn’t impacted that.” Chief Financial Officer James Taylor added: “The board have been very supportive of decisions, from a debt perspective there is no external debt from those decisions.”

Rangers posted a club-record turnover of £86.8million in their accounts 12 months ago and profit of £5.9m - boosted by their money-spinning run to the Europa League final in Seville - but that figure is predicted to drop slightly this year ahead of the club’s AGM, likely to be held in the first week of December.

The Ibrox club qualified for the Champions League group stage last season for the first time in more than a decade and despite a major flop where they had the worst record in the competition’s history, it proved a lucrative competition.