Rangers' managing director Stewart Robertson has explained the club have ALREADY filled a £7.5m funding gap for this season.
The club revealed they needed the cash to meet the costs of the season as the club's wealthy fan owners continue to dig deep.
They have already covered a £23.5m loss from last season's Covid afflicted term.
The accounts stated that chairman Douglas Park and vice-chairman John Bennet has agreed to fund the shortfall and it's now been revealed that commitment has already been met.
Robertson told the AGM: "The £7.5m mentioned in the accounts as needed for rest of season has already been met by investors."
READ MORE: Rangers provide player contract update amid Connor Goldson uncertainty
While the club has long planned for losses propped up by investors while Rangers is rebuilt, the onset of a global pandemic set the project back temporarily.
Chairman Douglas Park stated in the club's accounts: "The past year has continued to bring unprecedented challenges to our Club.
"The full impact of COVID-19 had yet to play out when I penned my previous annual report. The pandemic wrought a profound impact on our Club, both on and off the field of play and its effects continue to be felt."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel