Ticket and match day income is as important as any other revenue stream for Rangers.
In fact, one of the four foundations of the Rangers economic model is thought to be the money earned during the match days at Ibrox.
In addition to European football, player trades, and commercial revenue, the money collected from Ibrox match attendees will be essential to the club’s future growth.
But the team won’t be resting on their laurels as Ibrox undergoes substantial renovations this offseason, increasing the ground’s capacity even further.
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Scotland’s passion for football has never been greater.
The SPFL recently revealed that almost 5 million fans turned out to support their teams across the country, setting records for attendance for the second year in a row.
In the meantime, with over 50,000 MyGers members and a growing waiting list, the Rangers are still selling out of season tickets.
However, Adam Williams, TBR’s football finance specialist, asserts that matchday income will remain at approximately £40 million if Rangers carry on as they are.
Williams stated to Rangers News that “Rangers’ matchday income fell from £42 million in 2021–22 to £40 million in 2022–23.”
They can explain that slump by pointing out that in 22–23, they played less games at Ibrox than they did in 22–23, the season before, when they played eight games there altogether during their march to the Europa League final.
“That number is probably going to stay the same when they report their 2023–2024 finances later this year.
It appears that the club has reached a certain level of post-pandemic matchday income.
Since they nearly always sell out when they play at Ibrox, they don’t have many possibilities for raising their around £40 million per matchday.”
Ibrox upgrades can boost income
So, how can the Rangers raise this revenue on an annual basis?
The Ibrox team has been making significant changes to increase matchday and ticket sales revenue.
We have discussed the stadium’s renovation, which includes installing several new accessible seats within Ibrox.
Following discussions with supporters and players, the team also plans to relocate the Union Bears inside the Copland Stand.
But the Gers can boost stadium revenue in more ways than just repurposing the pitch.
Even if some of these options—like renaming Ibrox—wouldn’t sit well with supporters, the club has a lot of options to consider.
There is a physical limit to how much money Rangers can collect through the turnstiles, unlike in the commercial section, where there is a larger grid of opportunities for advancement, according to Williams.
“The majority of possibilities, like increasing ticket prices or renaming the stadium in conjunction with a partner, would not sit well with fans.
“The club made a wise decision in developing Edmiston House. Years from now, even though they can’t see the effects yet, that project will begin to pay off.
In addition, providing a better matchday experience is a newer frontier that great teams have ventured into.
For instance, Tottenham may bring in nearly £1 million from food and drink alone on a matchday.
“Rangers cannot achieve those kinds of numbers, but even small improvements in this area could add up to a sizable annual sum.”
We have a suspicion that the club has discussed all of these issues internally and that certain areas have seen noticeable improvements.
Perhaps these ambitions will have to wait, though, as James Bisgrove’s departure for Saudi Arabia has caused Rangers to experience even more turmoil.
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