By Sean Fisher

17th Nov, 2023 | 5:31pm

Revealed: £26m Rangers transfer news is officially confirmed

Rangers are still owed over £26million in transfer instalments according to their latest 2022/23 financial accounts, Football Insider can reveal.

The Scottish giants released their annual report on Monday (13 November) that included the club’s updated finances for the 2022/23 season.

The Glasgow club revealed a profit of £252,000 from last season after their overall revenues dropped down to £83.8million from the £86.8million recorded in 2021/22.

Within the report, Rangers state they are still yet to receive £26.1million in transfer payments.

Gers made a significant profit from their transfer business last season, including the sale of Calvin Bassey to Ajax for a club-record fee of £19.6million.

The sale of Joe Aribo to Southampton for £6million also contributed to Rangers making an overall profit across the summer and January window.

The payment structure of both deals are undisclosed but are likely spread across multiple years via instalments.

It is understood that Rangers are still owed fees from transfers made as far back as 2019.

The £26million owed to Rangers in transfer fees has increased from the 2021/22 season when the figure was £21.2million.

However, Rangers are still paying off transfer fees of their own, and their updated finances reveal that they are still set to pay out £24.5million – £3million more than in 2021/22.

Gers paid a total of £15.2million for new signings across the 2022/23 season, with many of those payments still yet to be completed.

In other news, Rangers stars transformed at Auchenhowie as Clement plots plan to blow Celtic away