Profits

The graph below shows the reported profits of Rangers.

As you can see these are actually losses, and generally huge losses. A target is to break even each year, before you took in to account the depreciation and the amortisation. The amortisation is explained here, the depreciation, shown here, can be viewed as the cost of the ground. The reason the board want to ignore these is that there's not much that can be done about them, in particular the ground costs.

The total losses over the last ten years are just over £161m. Clearly the only way the club has survived is through the amount of money pumped into it by its major shareholders.

The figures from 2008 should be a lot better. The sale of Hutton together with a pile of cup matches should have the situation. If it hasn't there are big problems as the on-field successes can not be seen to be usual.