Rangers has to pay out interest on loans taken out for various purposes.
The amounts being paid out were high up to 2005. This came from financing the huge debts the club had. The interest payments dropped dramatically due to the shareholders putting in £52m in 2005.
The payments have crept up again as the debt has risen. The 2009 figures are particularly bad given the huge fall in interest rates in the last year.
Looking forward it is difficult to see the interest payments do anything other than increase.
Rangers - Interest Payments