Report claims Rangers borrowing tops £22m – more than Scottish football’s professional clubs combined

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Rangers borrowed more than £22m in their latest year’s accounts, a report showing the amount of borrowing in football has claimed. 

The club borrowed over 22.5m according to a report shared on social media by football business lecturer Keiran Maguire, which showed that the Ibrox club borrowed more than the remainder of Scottish football’s professional clubs combined. 

The report was put together by the University of Liverpool lecturer to display the amounts borrowed by British clubs, totalling £3.5bn. 

Celtic were in second place, borrowing £10.8m. 

READ MORE: Rangers and the mounting £20 million loan debt needed to remain a going concern 

Other Scottish clubs registered – Hibernian, Motherwell, Dundee United and Dundee – owe around £9m between them. 

READ MORE: Matthew Lindsay: Forget about Dave King’s missing millions – what Rangers need now is financial prudence 

The totals of AberdeenSt Johnstone and Ross County were all less than £1m while Partick Thistle and Kilmarnock did not record any borrowings. 

In October, Rangers’ pre-tax losses had more than doubled for a second consecutive year to £14.3million.

An auditor expressed “concern” over the figures but chairman Dave King insisted there are no questions being asked about the club’s financial strength.

This story originally appeared in The Evening Times