Ibrox Stadium

Next Game

Rangers v Peterhead

Sunday, 02 August 2015, 15:00

Scot League Cup First Round

Last Game

Hibernian 2 - 6 Rangers

Saturday, 25 July 2015, 12:30

Petrofac Training Cup First Round

Losses surprise Rangers boss

Rangers boss Ally McCoist claims he is stunned by losses of £67m at Ibrox, which were revealed in a review into the club's finances last week.

Last Updated: 29/04/14 at 15:11 Post Comment

Ally McCoist: Rangers manager is puzzled at the financial situation at the club

Ally McCoist: Rangers manager is puzzled at the financial situation at the club

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Chief executive Graham Wallace's business review revealed that the Scottish League One winners had spent that sum in less than two years.

McCoist has guided the club to successive promotions since their formation as a newco in 2012 but Rangers have come in for criticism as they have the second-highest wage bill in Scotland.

But McCoist insists the focus should not be on players' wages and remains adamant the club is well run in respect of what the squad earns.

"I am hoping that the club moves forward but I was staggered at the losses, the money that has gone for one reason or another," he said.

"And I probably should mention that I am totally against any indication that the players have the money. One or two people have wrongly questioned players coming in and money being spent.

"Just to put the record completely straight on that, we didn't spend any money at all on the players, the budget came down, the wages in relation to turnover at the club is probably the envy of any club in world football.

"So although some of the money has gone on players' wages, it is a very small fraction of where the money has gone.

"It (ratio) is maybe 27/28 per cent. I think the lowest in the Championship last year was 53 or 54 per cent so that would give you the indication that the players' budget should be well within the overall turnover.

"So I refute the players taking any stick at all on it plus the fact that it wasn't myself who offered the players the contracts."

McCoist also queried Wallace's wishlist, headed by Rangers' aim to be Scottish Premiership champions by 2016/17.

He said: "We have always been ambitious, always set our targets as high as possible and I understand and accept that," he said

"I wouldn't want that to change at all.

"And hopefully, if we do get investment those targets can become realistic which is where we want to be.

"We need investment. I don't think it is as much rocket science as people are making out.

"If you lose in the region of £35million to £45million worth of players (due to administration) and don't buy to replace them you are going to struggle to compete at the level you once were."

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

I

t's a bloody good goal, though. Sh!t, the kid's gonna be the worlds best before we know it, isn't he? He's got the touch of genius in him. Like Neymar, but with muscles and stuff. He's doing a Ronaldo as we watch. He's bulked up to be able to ride the tackles, but he's improved technically as well. His touch is sublime. Bugger.

HarryBoulton
WATCH: Hazard's stunning goal

A

hhh, Jose arguing with another managers wife, clearest sign yet that we are going mental during the close season. I am rocking back and forth on my haunches.

hump3.
Jose hits back at Rafa's wife

I

t's only a matter of time before one of them throws in a yo mamma

lee
Jose hits back at Rafa's wife

Footer 365

Chelsea fail with £25m bid for Everton's John Stones

Everton have rejected an improved bid of £25m from Chelsea for centre-half John Stones, according to Sky sources.

Jose: 'Cabaye move makes PL harder'

Jose Mourinho claims the transfer of players like Yohan Cabaye to mid-table clubs makes the PL "very, very hard" to win.

Real reopen talks over £28m De Gea deal

Real Madrid have reportedly reopened negotiations with Manchester United over David de Gea and may complete a deal in the coming days.

Mail Box

Mails: This Is My Perfect Moment

Lots of Mailboxers channel their inner Martine McCutcheon to bring you their perfect footballing moments. Plus thoughts on Blatter, names, and Chelsea worries...

Mails: Let's Talk About Jose's Failures...

We don't talk about them because Chelsea won the title...but imagine if LVG or Brendan Rodgers had signed Juan Cuadrado. Plus, a trawl through the squads...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company