Rangers Accounts - 10 Things

Rangers released their annual accounts for the year ending June 30, 2014, on Thursday evening. Here, are 10 things we learnt from the report. 1. Rangers made an operating loss of £8.3million last season - an improvement of £6million on the previous campaign. 2. Recently-departed chief executive Graham Wallace earned £378,000 in less than eight months and also secured a £100,000 pay-off. 3. Wallace's predecessor, Craig Mather, received a £350,000 severance package. 4. Rangers need up to £8million of debt or equity finance in the next 12 months - starting from January. 5. Retail revenue almost quadrupled to £7.6million but retail costs were the main cause of a £3million rise in operating charges. 6. Former finance director Brian Stockbridge received a £216,000 severance package and made £189,000 on a share option but handed back £98,000 bonus money. 7. Staff costs fell from £17.9million to £14.7million - staff numbers dropped from 196 to 175. 8. Total revenue rose almost a third to £25.2million. 9. The club's first-team wage bill was 26 per cent of turnover - down from 43 per cent the previous season. 10. Former director Philip Nash made £131,412 in consultancy fees in six months.