Rangers Finance Director Says Club Looking To Increase Revenue To $150M
Scottish Third Division club Rangers plan to increase the club's revenue to £100M ($150M) a year "once it returns to top-level competition," according to Greig Cameron of the HERALD SCOTLAND. Finance Dir Brian Stockbridge made the prediction as he "believes an enhanced retail operation combined with greater sponsorship income -- including a naming deal for Ibrox Stadium -- will supplement match-day and football revenue." The club collected £9.5M ($14.2M) of revenue in the seven months between May and December and reported a £7M ($10.4M) loss. But Stockbridge pointed out that the club historically had a turnover of about £60M ($89.3M) in years when competing in the Champions League -- "not including merchandising, which had been hived off" to British sports retailer JJB Sports. Stockbridge revealed JJB Sports is "soon to be made four times bigger, on a site on the ground floor of the Edmiston House office block at the stadium." He said: "When [Rangers] did its own retail it made £20.5M ($30M) turnover and £5.6M ($8.3M) profit just from merchandising." He added that Rangers were looking at opening a retail store at Glasgow Airport and one in Belfast. Internet sales and the use of Puma's int'l retail presence "are also expected to grow revenue" (HERALD SCOTLAND, 3/11).