The finances of Rangers appears to be in as bad a state as ever..
http://www.bbc.com/sport/0/football/30284514
The RIFC results revealed that losses of £8.3m were made in the 12 months to the end of June 2014, and that the auditors Deloitte warned of "material uncertainty which may cast significant doubt over the group's ability to continue as a going concern".
The RIFC directors revealed that funding of £8m will be required, through loans or equity, to ensure that the business continues to trade for the next 12 months, on the assumption that season ticket sales will return to around 38,000, despite around 15,000 fans refusing to renew last summer, and an increase in season ticket prices.
As usually seems to be the case with him, Mike Ashley comes out in a very unfavourable light from the fans perspective.
"David Somers [the Rangers chairman] stated recently that Rangers 'make quite a lot of money' from the Sports Direct deal, but that is not how the accounts read in our analysis. In fact, despite the loyalty of the Rangers fans seeing £7.6m spent on retail in the year covered by the accounts, the club's share of that spending is £590,000.
It would seem troubled times will continue off the pitch..
