09 Nov 2026 17:21:35
Quiet day on here, so time to look out the kevlar as I can already guess what the replies will look like.
However hearing some worrying whispers that we have a pretty substantial hole in our finances, specifically related to UEFA's Financial Sustainability/cost control reporting. Which is going to force our hand into selling a couple of the crown jewels when the January transfer window opens.
Given where we currently stand in the league table, the club are braced for the inevitable backlash, but can't see any alternatives as things stand.
09 Nov 2026 17:36:30
Does that mean we are selling makhanya straight to Liverpool in January and have money left over to buy a replacement 👍.
09 Nov 2026 17:37:41
Squad is bloated , could get rid of a couple without harming us much.
09 Nov 2026 17:42:02
I presume the lack of European football has worsened this situation. Looking at our squad, I'm thinking that Raskin is likely to be the prime candidate, but depending on how deep the hole is we could also be looking at Miovski, Rommens, Fernandez and Barron being moved on.
We also have the likes of Cortes, Aasgaard, Bajrami, Danilo etc out on loan who may be moved on. Time will tell I supposed.
09 Nov 2026 18:08:09
Yes it's that easy to move players on nowadays, worked well the last few windows. There lies the problem, getting them shifted.
09 Nov 2026 18:08:14
I wonder if there will actually be any interest, especially since we couldn't shift a lot of them in the summer
I believe this was always going to be the case when you look at some of the fees we've paid recently 😕.
09 Nov 2026 18:12:58
I that not only applicable when you actually qualify in Europe, or do the qualifiers count also towards it.
09 Nov 2026 18:20:09
Have u been tipped the wink EHL as 30th June 2026 figures are not out but due anytime now. I'm seeing an estimated £8 million revenue shortfall.
09 Nov 2026 18:27:25
Haven't the board being saying at fan meetings that there is no problem with FFP?
Also don't agree we have a bloated squad unless you count all the guys who are out on loan or are hanging around the club like Souttar , McCausland and Cifuentes and let's be honest if we could sell them they would already be away and also we won't get much for most of them anyway.
09 Nov 2026 18:58:39
Surely the club knew this was going to be the case during the summer, crazy then that we spent 17mil plus on Kelsey and Kim, especially after being knocked out of Europe.
09 Nov 2026 19:03:48
We will have profits from jefte and igamane and yilmaz and Dessers in this years figures also, they were all sold after June 25, so any profit may mitigate some of it.
09 Nov 2026 19:03:49
Nod nod wink wink Forky.
09 Nov 2026 19:11:09
Cheers bud👍.
09 Nov 2026 19:16:09
They have that wslgers.
09 Nov 2026 19:29:42
Just as well manny's worth £30m then lads and we can replace him with Widdel 😂.
09 Nov 2026 19:30:09
Ehl thanks for sharing that too mate it's certainly worrying.
09 Nov 2026 19:31:31
EHL 8- to 10 million black hole! Plus another director I'm hearing is away today as well, which I disagree with heard good things about him!
09 Nov 2026 19:53:51
If we see as expected departures of fringe players.
Souttar and McCausland, and the savings in salary there.
Along with a sale of Miovski.
Would a potential sale of either one of Chukwuani, Gassama or Rommens affect the outcome in our chances of winning the league this year?
If any of the 3 players who may not form part of our first pick starting 11 at the moment were to go in January, my money would be on either Gassama or Chukwuani, combined fees and salary savings on all would fill any £8mil gap
We have been told to expect a quiet window, but I feel we may see 1 player come in, who would compete for a starting place straight away.
09 Nov 2026 20:07:27
Find it hard to believe the people running our club wouldn't know this issue was on the horizon in the summer and still decided to throw the kitchen sink at winning the league only to get into a good position then go ah we will need to sell a couple key players and ruin the good position for we got ourselfs into.
Anyway I suppose we shall see in January.
09 Nov 2026 20:09:52
Raskin was expected to bring in a lot of revenue but the move failed to materialise, unfortunately I feel we may live to regret not selling Chermiti in the summer also.
Would also have liked to see Sterling's salary removed from the calculations also.
09 Nov 2026 21:07:33
So my understanding of UEFA's squad cost rule is that it runs over a calendar year so 26/27 period ends on 31 December 2026. so not sure how selling a player or players in January would help for this year. Article 93.04 sets the date as end of year due to different accounting periods, e. g us against Scandinavian clubs.
Realistically, as a first-time offender with an £8 million overspend, Rangers would strictly face a cash fine scaled to the size of the breach, rather than any sporting penalties.
Under UEFA's automated financial disciplinary grid for minor overspends (exceeding the limit by less than 10%), a first offence triggers a levy of 10% to 25% of the excess amount, which translates to a total penalty between £800, 000 and £2, 000, 000.
Based on recent precedents (Chelsea, Notts Forect), UEFA would likely structure this as a split sanction; ordering an immediate payout of roughly £500, 000 (withheld directly from the club's European prize money) while suspending the remaining £1, 000, 000 to £1, 500, 000 on the condition that Rangers successfully bring their pAyroll back under the 70% cap during a 1-to-3 year probation period.
Catastrophic sporting sanctions, such as point deductions, European bans, or squad size restrictions, are, I believe, legally excluded for initial, minor rule infractions and are only leveraged against repeat offenders or clubs that severely exceed the cap.
so not disagreeing with the fact it might be the case due to our lower revenue but the penalties might not be so drastic.
09 Nov 2026 21:28:24
Rangers must prepare an audited interim financial submission covering the exact 12-month calendar window ending 31 December as per UEFA's instruction.
So basically 6 months of 25-26 season and 6 months 26-27 season to satisfy UEFA. So selling a player in January won't factor into this year's UEFA submissions.
09 Nov 2026 21:29:32
That is if any of the rumour is true. If we can't verify it we have to wait and see what happens.
09 Nov 2026 21:31:06
I did say back in the summer that I had heard there would be more internal changes coming. Interesting.
09 Nov 2026 21:37:04
Personally, I struggle to fully understand the UEFA reporting requirements, despite repeatedly questioning those involved in the actual production of the reporting.
Couple of points to make in response to a few of the comments above.
In terms of what's been communicated at the FABs, pay close attention to the wording of the responses.
What I'm referencing is a reporting concern, not a cash flow concern.
The reporting process is made up of multiple parts, some running over a 12 month period, others over a rilling 3 year period.
In order to be compliant with this period we had to be creative in deferring income from the last period.
Elements in relation to this will start to drip feed as the publication of the accounts is imminent.
09 Nov 2026 21:44:46
I doubt Chermiti was remotely close. Turkish teams are notorious for being time wasters in transfer dealings. If there was any credible offer I am sure he wouldn't have played.
09 Nov 2026 22:31:41
Ehl, this is why the deal around Butland and pandur was complicated , yes? Trying to divide the accounting timeframes.?
I'd be happy to sell Rommens for €6m plus and sign a young Scottish left back.
For me young Fraser can easily back up penrice.
We need to bring money in every window we can't live by our own means without sales.
09 Nov 2026 23:22:29
I know nothing about these figures or financial regulations at all but was very concerned about the extreme high spend in the summer with practically nothing coming in as well a dropping out of Europe which some felt was a blessing somehow. To go from rumours of financial problems and cut backs before takeover to just crazy spending after without real changes is only going to cause problems in the future.
But then we've had scare stories before which weren't true so not sure what to believe until things come out.
09 Nov 2026 23:42:07
Kaiser I think we went all in mate. We played all our cards this summer so n the hope it would win us the league and give us that extra shot at more euro money.
If we missed it or indeed do miss it this season, we might have a long road back to the top aftet this year man.
I think we will sell however many players it takes to bring in £25-30m this summer BEFORE we even cinsider signing anyone.
I think we have a squad that is capable of losing any 2 players, let's say Raskin £10m due to contract. And Gassama €10m to cover our obligations to ffp etc.
Aftet that I'd expect to spend what we bring in, ie Rommens €6-8m and manny or maka one or the other would likely go say manny is £10m and maka £20m
That would give us movement on the 3 years regulations to cover any incomings
I expect to sell one of manny/maka , Raskin, Rommens and gassam ma this summer.
Maybe even kelsy or Naderi to allow Chermiti back in.
We're a selling club just like the Dutch 3 or the Nordic clubs.
We are a selling club now just not as accomplished at it as the one we are trying to copy.
10 Nov 2026 06:42:06
Stevie G I am curious as to why you are having some players sold in Sterling and others in Euro. Is it where you believe these players will go if sold?
10 Nov 2026 07:03:47
EHL, would i be correct in assuming if we don't sell a player in january mate, there would be no chance of signing bouanani on a permanent deal in the summer 🤔It would be difficult enough trying to sign him with the quoted fee stuttgart want for him 🤔Then there's that old chestnut of the signing of lewis Ferguson again which i'd assume won't be the case in the summer given what you've told us EHL 🤔Unless of course we do manage to sell a couple of our players who are worth a bit of dough 🤔.
10 Nov 2026 07:45:33
Risky strategy StevieG, esp as we've not managed to be a selling club. We're a sell cheap, loan out for years or run down contract club. I do believe we have some good assets now though if we do have to go down that road but yet to believe any of the fees we get quoted.
10 Nov 2026 08:19:27
SWS how many players would we need to sell to finance the purchase of the two you mentioned. it would be crazy to sell say 3 players to replace with 2 more expensive, that's not the way a selling club works surely.
is the model not to sell at high price and replace with lower paid developing players?
10 Nov 2026 08:28:14
Bring back Barron from his loan where he isn't playing and sell him to Series A where some think we will get £10 million. Easy 🤪
Buy Penrice for £2 million and then immediately sell the "best LB" in Scotland for the £25 million that last "best LB" went for. £23 million profit. Easy😜
As AC/DC would then sing:-
🎸Back in Black🎸
Panic over😎.
10 Nov 2026 08:52:55
SWS! Wwe have half a dozen (or more)on the books we have been trying to move on for over a year! With no success, some of these are on loan & worryingly might come back. We do jot have a great track record of selling at a profit on anyone recently!
So given the thread is about us possibly failing the financial guidelines.
WHERE? do you suggest we get 15mil fo Bouanani & roughly the same for Ferguson PLUS signing on & salary for both??
10 Nov 2026 11:10:54
I think the trouble is no one wants our fringe players. We are going to have to sell starters,
10 Nov 2026 11:37:08
We won't sell starters in January unless crazy money comes in as our manager and chairman has already stated I think you can take their word for it over anon people on a Rangers website. No disrespect intended to what people have heard been told.
10 Nov 2026 12:29:25
The financial year for accounts at Rangers FC run from 1/7 till 30/6 each year. They are normally released around October/November.
So any accounts for the business or if UEFA require December to December won't include summer signings.
I.e. for the business. July till June.
If UEFA require account, it would be 1/1 to 31/12 year 25.
10 Nov 2026 12:29:34
Personally, I don't worry about the financial side any more. Previously we had a board with limited funds that had to careful with every penny spent and had to be creative to get money in but now we have an owner who has the funds to ensure the club does not get into trouble that's all that interests me.
He has backed the manager in fees and wages to try to bring back trophies to the club which is what we all want and I don't believe he would do any thing that would put the club in trouble or that he can't afford .If this team wins the league that's what we have been crying out for and if it means that we need to pay a fine to UEFA to compete in their tournaments then we can do that.
We also now have a few players we can "cash in" on if we had to, although probably not at the fees mentioned for them on here. So as I say, I read everything but no longer worry about it.
10 Nov 2026 11:41:56
So I understand it is a reporting issue rather than a cash flow issue.
my point is that as the reporting period ends on 31st December that selling players in January would fall into the next reporting period so why would we not wait until summer when market is always more buoyant.
re the two reporting requirements; figures are best I can find for this so may be out a bit:
1. We are required to keep our squad-cost-to-revenue ratio under a strict 70% maximum for each UEFA reporting period. Our baseline ratio was sitting healthy at around 54% to 57%, which gave us a comfortable cushion.
However, missing out on the European league phases creates an immediate £8m to £15m hole in our total revenue, which automatically drives that percentage up.
Furthermore, the transfer math doesn't simply balance out. While a £42m summer spending spree is spread out over player contracts (adding around £10m a year in amortisation to our costs), player sales are booked immediately as a lump-sum profit on the revenue side.
Because of how fractions work, adding equal amounts to both our spending costs and our revenue actually inflates the final percentage rather than breaking even.
When you combine this rising cost block with a shrinking European revenue base, that comfortable 15% safety cushion could quickly disappear, pushing us right up against that 70% danger zone before the December 31st deadline.
2. While the 70% wage test is our immediate hurdle, the 3-year rolling Stability Rule is where our owners' cash injections protect us.
Normally, UEFA only allows a club to lose a tiny €5 million over a rolling three-year period. However, if the owners cover the deficits by buying fresh shares in the club (converting owner debt into equity), UEFA expands that allowable loss limit up to €60 million.
Because our board has pumped in roughly £36 million in equity, they successfully unlocked this higher €60m safety net. When you combine our last two years of losses and subtract UEFA's allowed deductions for the youth academy and infrastructure, our adjusted historical loss sits at roughly €20 million. This leaves us with a comfortable cushion of nearly €40 million in the three-year "loss bucket" to absorb the £15 million revenue hit from missing the European group stages.
Consequently, while the single-year 70% wage ratio is a tight squeeze, our owners' equity strategy ensures we remain secure against a rolling three-year stability breach.
sorry for the length but it is complicated. not saying this is 100% accurate but best I can work out.
10 Nov 2026 12:40:19
EHL, my take from your latest post is a wee bit more reassuring.
If i've interpreted that post correctly, it's basically a question of waiting to see what actually develops as the situation is clarified, regarding things like time frames and other factors etc.
Fingers crossed our owners have been fully aware of any possible repercussions and have planned accordingly.
10 Nov 2026 13:09:24
No it's not John it's:
Under the UEFA Club Licensing and Financial Sustainability Regulations, cost control is assessed on a calendar-year basis (1 January to 31 December) rather than a club's standard football accounting year. Because Rangers' financial year ends on 30 June, their 12-month UEFA cost control submission bridges two separate football seasons.
• First Half (1 January – 30 June). Covers the second half of the 2025/26 season (derived from the second half of Rangers' 2025/26 annual accounts).
• Second Half (1 July – 31 December). Covers the first half of the 2026/27 season (submitted via reviewed/audited interim financial statements for the six months ending 31 December 2026).
Rangers must prepare an audited interim financial submission covering the exact 12-month calendar window ending 31 December as per UEFA's instruction.
So basically 6 months of 25-26 season and 6 months 26-27 season to satisfy UEFA. So selling a player in January won't factor into this year's UEFA submissions.( posted last night).
Said that up there⬆️ once I'd checked it.
10 Nov 2026 13:13:37
Might as well add this for info:
Player Sales Use a 36-Month Window. While wages, transfer amortisation, agent fees, and operating revenues are measured over that exact 12-month calendar window (Jan–Dec), player disposal profits/losses and impairments are calculated over a 36-month period ending 31 December, prorated to 12 months (effectively a three-year average). Therefore, a player sale made in January 2026 does factor into the 2026 submission, though its impact on the revenue denominator is averaged over three years rather than counted all at once.
10 Nov 2026 14:30:39
Cool fork. So we predict what happens November and December. Fair shout.
10 Nov 2026 15:06:01
No worries mate 👍👍.
10 Nov 2026 17:57:27
Penrith that's exactly it mate.
Just a guess as to where they're going.
So if Monaco bud for Gassama it would be euros
If it stays within Britain £s that's all mate.
10 Nov 2026 21:16:09
I don't know anything bout this but could it be possible that the Americans cleared the shortfall when they took over the club? Surely they wouldn't have put all there eggs in 1 basket. they could even sell a couple o slabs like real madrid did a while back 😂.
10 Nov 2026 21:31:12
As always happens when there is anything posted on this topic, some posters tend to belly flop in at the deep end.
One question, where did I say the concerns were in relation to the current reporting period?
10 Nov 2026 22:08:39
You didn't, but equally, by not specifying which reporting period you were referring to, it was always likely that people would assume you meant the current one. I suspect most people would naturally think in terms of the accounting year rather than the calendar year, without necessarily going away and checking the reporting rules.
However, if your concerns relate to the next reporting period, ending 31 December 2027, can you explain why that would force our hand into selling a couple of the crown jewels when the January transfer window opens?
Surely, in that scenario, we would still have the summer window to do business, with another 11 months to address any potential shortfall. There are also a number of other variables between now and then, including the possibility of qualifying for European football, progressing in those competitions and generating additional revenue, as well as attracting new sponsorship.
If the financial hole is largely attributable to missing out on European football this season and not having a significant player sale, there would seem to be various opportunities to improve the position before the next reporting period closes.
I'm not saying there aren't financial concerns, or that you haven't heard something worth discussing, but the suggestion that we are already facing an inevitable January fire sale seems a fairly big leap without a bit more explanation.
So no belly flop from my perspective, just an attempt to have a discussion and better understand the information you're sharing, particularly as your information comes from internal contacts. I don't think it's unreasonable to ask a few questions to understand the context, particularly when the suggestion is that we could be forced into selling some of our key players in January.
11 Nov 2026 05:37:17
Sorry EHL, but u can't throw a line like that out when Rangers year-end figures are due out and were 6-7 weeks from our submissions to UEFA and not expect people to look at this year's finances. If u want a more reasoned view then post what u mean instead of being vague after the responses above.
11 Nov 2026 06:25:28
That aside u did mention this year's compliance and being creative from previous periods, so it's only natural to look.
11 Nov 2026 06:46:24
No worries Fork, wasn't intentionally being vague, was just sharing what I'd heard.
11 Nov 2026 09:23:02
Not a problem bud, all insight is welcome and appreciated 👍.
11 Nov 2026 11:51:19
Quiet day so let's post something that will be fear for some.