Rangers CFO James Taylor provides ‘important’ FFP update at Ibrox in new Everton verdict
Rangers Chief Financial Officer James Taylor has addressed the club’s view on UEFA rules and Financial Fair Play following the events at Everton and Nottingham Forest.
Both Premier League clubs were accused with breaking financial rules, prompting increased monitoring of all elite clubs, but Taylor has underlined that the club has a strong connection with UEFA and is following the laws.
Taylor stated on the Four Lads Had a Dream podcast [12 February] that there are three monitoring pillars that adequately cover their needs. The first category is overdue payables, thus we must verify that no football obligations remain outstanding. Transfer fees, contingent transfer costs, and so on.
“The second is about football earnings and what you’d normally classify as FFP, which you’d see down south in Everton and Nottingham Forest, in terms of long-term deficits.
“You calculate your profit and loss and add back a number of investments. Make sure you stay inside your €5 million budget. Certainly, in the data we presented last year, we were inside that range, so we’re satisfied. That is something you should keep an eye on going forward.
Rangers’ commercial climate differs from Fulham and Brighton. To anyone down south, the value of our media revenues compared to those in England means that a good or bad European season can have a substantial impact on some of our football earnings.
It’s important for us when we’re making investments that it’s on a sustainable basis.
“From a UEFA standpoint, we feel that as a football club, we’re progressing. We’ve got a good relationship with UEFA and that’s important to maintain in future.”
Rangers will be extra careful with their financial position
The situation with Everton, Forest, and other Premier League clubs appears to be far from what Rangers are facing, which will be excellent news for fans; but, they must be vigilant.
The club’s goal of becoming self-sustainable within two years has not been met, despite appeals to reverse course before their AGM in December.
However, it appears that they are in a strong financial position, which will be good news for Gers fans, who are usually anxious about the club’s finances following what happened to them earlier.
According to football finance specialist Kieran Maguire, Rangers’ matchday revenue and income are comparable to top-six clubs in England. The main difference is in media revenues, which Taylor has confirmed.
Rangers’ qualification for UEFA competitions is critical for their income, and that solid relationship and commitment to cooperating with the governing body should serve them well in years to come..
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