The main talking points
Rangers publish full accounts for year ended 30 June 2020. Despite Covid-19 revenue increased by 11% compared to 16% decrease at Celtic. Gap between two clubs down to £11m from £30m in 2019.
Rangers matchday income up 12% compared to 17% fall for Celtic.
Rangers broadcast income up 24% compared to 12% decrease for Celtic.
Rangers commercial/other income down 5%, compared to 17% at Celtic
Rangers wages up a quarter to £43 million, Celtic have not published 2020 wage data yet but was £56m in 2019.
For second consecutive year Rangers’ day to day losses are lower than those of Celtic, although the latter have offset these through player sales.
Rangers continue to focus on player recruitment whereas Celtic’s business model is usually to sell one player for a large fee each season to offset operating losses. Since 2014 Rangers have made £6m from player sale profits compared to £97m for Celtic.
Rangers ended up with pre-tax losses of £340k a week compared to Celtic breaking even.