Rangers director James Bisgrove issues Edmiston House update as £28million revenue target exceeded

The Ibrox chief has thanked supporters for their role in providing the club with a substantial cash boost

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Rangers commercial and marketing director James Bisgrove has revealed the club have exceeded their revenue targets of around £28million.

Bisgrove, who attracted widespread criticism from supporters last season for his role in the Sydney Super Cup fiasco, set out the ambitious objectives during last year’s Annual General Meeting (AGM).

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He has since brought several new partners on board at Ibrox in recent months in an attempt to meet their end goal.

Rangers’ ongoing merchandise deal with Castore continues to flourish, but they are yet to benefit from the New Edmiston House project which is expected to be completed later this year.

Bisgrove joined several of the club’s key partners in attending a reception in London on Wednesday night as the UK Government held a special event to mark Rangers’ 150th anniversary celebrations.

In an exclusive interview with Rangers TV, Bisgrove admits he is encourged by the progress that is being made behind the scenes at Ibrox ans if confident fans will see the benefits of their endeavours on the park next season.

He said: “It’s been a positive year for us, it’s been a really good year in terms of commercial revenue, in terms of commercial growth.

“I spoke at the AGM back in November 2021 and I set out our target if you like for our revenue figure we wanted to reach, which was £27.9million.

“In the years before Covid we were around £13/14million. So we set a really high bar and we’re delighted we have reached that, we have actually exceeded that.

“That’s thanks to our different commercial operations, all our sponsors, the backing we get from hospitality clients, the support we get from supporters buying retail products and going on stadium tours.

“That gives us a real platform to move forward and grow for next season. We are looking ahead to next season with Edmiston House and the club museum which will be ready for the end of the year.

“We’re enhancing a lot of facilities at Ibrox too. For that commercial pillar to be forming, to be growing, it sits alongside the other pillars, the matchday revenue, season tickets sold out again in record time.

“The backing this club gets is second to none. It’s unparalled.

Bisgrove also revealed how the sensational run to the Europa League Final in Seville last month has boosted the club financially in addition to their commercial activity.

Rangers commercial director James Bisgrove (left) and sporting director Ross Wilson (right) must assess the impact of failure to reach the group stage of the Champions League.

He added: “The run to Seville was obviously remarkable on the pitch but what that has allowed us to achieve off the pitch was equally important.

“Then there’s the player trading an the work Ross Wilson is doing.

“All of those pillars are working in unison and it gives us a great base in terms of the revenue for the club which will be at a level which it’s possibly never been at before.

“Profitability, financial health, it gives us a real stable footing for next season. That’s the work off the pitch and hopefully it will be to the benefit of the team that comes out on a Saturday.”