Celtic Park

Next Game

Celtic v Rangers

Sunday, 01 February 2015, 13:30

Scot League Cup Semi-Final

Last Game

Alloa 0 - 1 Rangers

Saturday, 10 January 2015, 15:00

Scots Champ

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

T

he thing is, footballers are role models, and children are influenced by them. I watched the Chelsea game with my 6 year old, and at school the next day she stamped on Emre Can.

megabrow (cufc)
Diego Costa: The Patron Saint Of S**thousery

Y

et again Barcelona try to convince the world that they only play the most virtuous of football. I've never seen a team so willing and able to dish out lumps but feel so self-righteous that no opposition player should ever have the audacity to tackle them.

charsmatcengma
Enrique hauls Neymar to safety

I

d love to see a United v Liverpool FA cup final. It would certainly fit the narrative. Obv I'd want the ending to be one of an O.G. and tears as he collects his runner-up medal.

GVMUFC
Gerrard Constantly Searching For That Final Hurrah

Footer 365

Eden Hazard: 'Chelsea need Diego Costa'

Eden Hazard admits Chelsea 'need' Diego Costa as he faces a three-match ban for a stamp on Emre Can on Tuesday night.

Copa del Rey: Luis Enrique says Neymar had to be substituted against Atletico Madrid to prevent injury

Luis Enrique says he had to substitute Neymar to prevent him from being injured in an ugly cup tie with Atletico.

Capital One Cup: Tottenham boss Mauricio Pochettino pleased to overcome challenging tie with Sheffield United

Mauricio Pochettino dedicated Tottenham's Capital One Cup semi-final triumph over Sheffield United to the fans.

Mail Box

But Biting Doesn't Hurt Like Stamping...

There are Liverpool fans arguing that Luis Suarez is nowhere near Diego Costa's sh*t-house league but we have plenty of love for the agitator too. Oh and Spurs...

Erm... Balotelli To QPR..?

It's an afternoon Mailbox that offers the reaction to the reaction, with a defence for Diego Costa offered, and Balotelli mooted to move to QPR. Plus a silly idea about the Mails...

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