Ticket and match day income is as important as any other revenue stream for Rangers.
In fact, the finances raised through the match days at Ibrox is considered to be one of the four pillars of the Rangers business model.
Alongside European football, commercial income and player trading, the money raised from match going Ibrox fans is going to be crucial to how the club develops moving forward.
But as Ibrox goes through something of a renovation this close season, nudging the capacity of the ground up even further, the club will not be resting on their laurels.
Rangers max out amid record-breaking figures
The appetite for football in Scotland has never been higher.
The SPFL have just announced record attendances for the second year running with over 5m supporters coming out to cheer on their sides across the nation.
At the same time Rangers continue to sell out their season tickets whilst boasting over 50,000 MyGers members and a swelling waiting list.
But despite this, TBR’s football finance expert Adam Williams claims that if Rangers are to continue as they are, matchday revenues will continue to sit around £40m.
“Rangers’ matchday income fell from £42m in 2021-22 to £40m in 2022-23,” Williams told Rangers News.
“They can attribute that downturn to the fact that they played fewer matches at Ibrox in 22-23 compared to the previous campaign, when their run to the Europa League final saw them play eight times at Ibrox in total.
“That figure will likely remain steady when they release their accounts for 2023-24 later this year.
“But the club do seem to have hit something of a ceiling in terms of post-pandemic matchday income.
“Given that they sell out almost every time they play at Ibrox, their options in terms of increasing their annual matchday of circa £40m are limited.”
Ibrox upgrades can boost income
The question then becomes, how can Rangers increase this income year-on-year?
There are sizeable steps the Ibrox side have been taking to boost their matchday and ticketing income.
We’ve spoken about the upgrade to the stadium, which will see a number of new disabled seats installed inside Ibrox.
The club are also set to rehouse the Union Bears into the Copland Stand after consultations with fans and the players.
But it’s not just in reshaping the ground that the Gers can increase their revenues from the stadium.
Whilst some of these routes, such as renaming Ibrox, would be unpopular with supporters, there are a number of opportunities for the club to explore.
“Unlike in the commercial department, where the is a greater matrix of possibilities for progression, there is a bricks-and-mortar limit on how much Rangers can bring in through the turnstiles,” said Williams.
“Most options – raising ticket prices, striking a deal with a partner to rename the stadium etc – would be very unpopular with supporters.
“The club have been smart with the Edmiston House development. Although they aren’t seeing the results just yet, that project will start to bear fruit in years to come.
“Besides that, offering more in terms of the matchday experience is another field elite clubs have chosen to plough in recent times.
“Tottenham, for example, can make almost £1m per matchday from food and drink alone.
“Those kinds of numbers are out of reach for Rangers, but marginal gains in this department could add up to a significant sum on an annual basis.”
We suspect that all of these matters have been discussed internally by the club and there have been clear improvements in a number of areas.
But with Rangers facing yet more upheaval as James Bisgrove heads to Saudi Arabia, perhaps any such plans will have to wait.
