SPL's Finances Fall To $19M In Losses, And Rangers' Drop Will 'Make Matters Worse'
The Scottish Premier League has gone from a profit of £2M ($3.2M) to a loss of £11.9M ($19.2M) and Rangers’ drop into the Third Division is "set to make matters worse," according to Hugh Keevins of the Scotland DAILY RECORD. The latest annual financial review of the SPL, carried out by PricewaterhouseCoopers, says the loss of Rangers and its fan base "will create further financial damage." David Glen, who put the report together, said: “At first glance it appears the SPL only made a loss of £2.5M ($4M) during the last year examined, which is 2010-11. But after delving deeper, and stripping out a one-off event like Hearts’ debt forgiveness of £7.8M ($12.6M), the true underlying loss of £11.9M is exposed. The league was in the black in 2009-10 with an overall profit of £2M but now the game is under more intense financial pressure than ever before." Glen’s solution is for clubs to "invest in homegrown players who can then be sold on for big profits" (DAILY RECORD, 12/4).
NO RUSH: In Glasgow, Gavin Berry reported Scottish FA President Campbell Ogilvie "insists plans for a Scottish football revolution should not be rushed through." Shortly after Ogilvie appealed for the game’s "major players to take their time to ensure the right decisions are made," it emerged the president could have a new 12-12-18 structure in place for next season. Ogilvie is determined to "get heads knocked together,” so the SPL and Scottish Football League can agree on a vision for the future. He will be given a "clearer indication if they are about to agree on historic change when they meet on Thursday to discuss the plans, that are in contrast to the SFL’s 16-10-16 proposal" (DAILY RECORD, 12/4).
SEEKING RE-ELECTION: The SCOTSMAN reported Ogilvie has "declared his intention to stand for re-election for the SFA presidency." Ogilvie had "faced calls to resign earlier in the year because of a previous role as a director at Rangers, which have been mired in allegations of wrongdoing in relation to Employment Benefit Trusts." Ogilvie admitted that the saga had "put a cloud" over his tenure for the last six months, but said that he wants to "continue in the role in order to play a part in the proposed league restructuring of the Scottish game" (SCOTSMAN, 12/4).