Rangers hike annual membership costs by 6.5%

Rangers F.C. have announced a 6.5% increase in adult season ticket prices, a key component of their strategy to bolster revenue and make significant investments in the men's first-team squad.

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This decision has been made in response to rising operating costs across the club, as well as a desire to remain competitive, according to Chairman Andrew Cavenagh, who discussed the move on Wednesday.

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The club intends to generate £16m in new capital through a share issue, which will be used to fund investments in the men's squad, with adult season ticket prices also set to rise by 6.5%.

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Andrew Cavenagh explained that the costs of running the club, including player wages, agents' fees, security, food, and beverage, are increasing at a rate faster than inflation, underscoring the need for increased revenue.

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Cavenagh stressed that increasing revenue is crucial to avoid reducing investment in the football team, stating that the club must either keep pace with rising costs or decrease spending on the squad, with the latter option not being considered at this time.

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In fact, the club believes that this is the ideal time to increase the player and football budget, rather than decreasing it, as they strive to remain competitive.

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While acknowledging the burden that the ticket price increase will place on supporters, Cavenagh emphasized the club's responsibility to utilize the additional income wisely.

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If supporters are being asked to pay more for tickets, the club has an obligation to spend those funds wisely, according to Cavenagh.

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Alongside the rise in ticket prices, Rangers are planning to raise additional funds through a share issue, with the combined approach aimed at strengthening the squad while maintaining financial stability.

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According to Cavenagh, the club is conducting a thorough review of every aspect of its operations, seeking ways to become more efficient and allocate a greater share of resources to the men's first team.

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This move is part of a broader strategy by Rangers to enhance their competitiveness while streamlining their operations behind the scenes.