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Rangers publish full accounts for year ended 30 June 2020. Despite Covid-19 revenue increased by 11% compared to 16% decrease at Celtic. Gap between two clubs down to £11m from £30m in 2019
Rangers matchday income up 12% compared to 17% fall for Celtic.
Rangers broadcast income up 24% compared to 12% decrease for Celtic.
Rangers commercial/other income down 5%, compared to17% at Celtic
Rangers wages up a quarter to £43 million, Celtic have not published 2020 wage data yet but was £56m in 2019.
Rangers transfer fee amortisation (transfer fees spread over contract period) up a third to £7.6m. No figures for Celtic yet who had £9.7m in 2019.
For second consecutive year Rangers' day to day losses are lower than those of Celtic, although the latter have offset these through player sales.
Rangers continue to focus on player recruitment whereas Celtic's business model is usually to sell one player for a large fee each season to offset operating losses. Since 2014 Rangers have made £6m from player sale profits compared to £97m for Celtic
Rangers ended up with pre-tax losses of £340k a week compared to Celtic breaking even.
Since 30 June 2020 Rangers have made a further investment in the squad of £15m, borrowed £4.5m in loans and converted another £13m of debt into shares.
