Rangers’ Chief Financial Officer, James Taylor, confirmed at the club’s recent annual general meeting (AGM) that the club’s player sales during the summer transfer window generated just £800,000 in total, leading to concerns over the effectiveness of their player trading model.
During the AGM, Rangers’ hierarchy faced questions from shareholders on several pressing matters, including the significant costs of the ongoing stadium renovation, which has temporarily seen the team relocated to Hampden. In addition, concerns were raised about the leadership at the club and the financial state of affairs after the reporting of a £17.2 million loss.
However, it was a question from a shareholder about the financial impact of player sales that drew the most attention. The fan inquired whether the combined income from the summer sales – which saw key players such as Connor Goldson, Todd Cantwell, Sam Lammers, Scott Wright, and Robby McCrorie leave the club – was indeed just £800,000. The response from CFO James Taylor was met with audible gasps from the shareholders present.
“Yes, it’s confirmed, £800,000 is indeed the number,” Taylor said, acknowledging the disappointment in the club’s ability to raise significant funds through player sales.
Taylor went on to address the broader issue of the club’s player trading strategy, admitting that it has not been functioning as effectively as needed. “Player trading hasn’t been working for a number of years. It’s an ongoing issue that we need to address. This is the continued challenge of decisions that were made 18-24 months ago,” he explained.