THE cinch Premiership triumph that Rangers romped to in such fine style last season was viewed by many of their longsuffering followers as the end of years of struggle and the dawn of a glorious new era.
Joyous fans ignored lockdown restrictions and took to the streets in their thousands to celebrate as the Ibrox club finally landed the Scottish title once again. The nightmare was over. A new period of domestic dominance awaited.
But the cost of beating Celtic to the top flight trophy - and denying their Parkhead rivals’ the chance to make Scottish football history by completing 10-In-A-Row - was laid bare six months later in November when their results for the financial year ending June 2021 were published.
The Glasgow giants posted losses of £23.5m. The league may well have been won. However, at what price had their success come?
Supporters of their opponents lapped it up. For them, it was evidence that Rangers had not learned any lessons from the past and were hurtling headfirst towards oblivion once again.
Steven Gerrard had only brought in John Lundstram, Nnamdi Ofoborh and Fashion Sakala, three free sigings, as well as Juninho Bacuna, who cost a nominal fee, during the summer. There were widespread suspicions that trouble was afoot.
That playing all of their matches behind closed doors because of the Covid-19 pandemic had cost the new champions millions in matchday income was conveniently ignored. As was the fact that prized assets who would have been sold in normal circumstances had been retained in a concerted effort to win the Premiership.
Still, those voicing concerns definitely had a point. Lifting silverware in Scotland and performing well in Europe was all well and good for Rangers. But doing so while balancing the books had to be their ultimate ambition.
Living outwith their means, spending money which they did not have, acting with shameful recklessness at boardroom level, was what had led to their well-documented implosion in 2012 and subsequent seasons of hardship in the first place.
Are Rangers, though, now on the cusp of achieving on-field excellence as well as off-field stability at long last? Their next set of figures promise, regardless of who is sold and who is brought in during the summer, to make for far more palatable reading for their fans later this year.
Their run to the Europa League final has banked them in the region of £15m before gate receipts. Their takings from their Premiership, Premier Sports Cup and Scottish Cup matches will have made them, at a conservative estimate, £5m more than last term. They also received £12m when Nathan Patterson was transferred to Everton back in January.
Theoretically, Rangers could ignore any offers which come in for Calvin Bassey in the coming weeks and still break even.
Hanging on to Nigerian centre half cum left back Bassey for another season at least will please their supporters no end. The defender has gone from strength to strength since Giovanni van Bronckhorst succeeded Gerrard back in November. He has been outstanding both at home and abroad and has attracted many admiring glances from down south and further afield. He is, too, still just 22. What heights can he scale in future?
Yet, selling Bassey makes sound business sense for Rangers. They will not entertain any bids under £25m for an individual they landed for a paltry £230,000 from Leicester City back in 2020. They will, then, make tens of millions of pounds profit on the young player they have received two years great service out of.
It will be difficult for them to fill the void he leaves in Van Bronckhorst’s side and continue to operate at the same high level. He will be a huge loss if he departs, no doubt about it. But they just need to look across the River Clyde to see that life will go on.
Celtic have been reaping rich rewards from bringing through raw young talents, developing them and then cashing in on them for years. They did so with Kristoffer Ajer, Stuart Armstrong, Moussa Dembele, Odsonne Edouard, Fraser Forster, Jeremie Frimpong, Aiden McGeady, Kieran Tierney, Virgil van Dijk and Victor Wanyama. They have stayed in the black as result.
The trick for Rangers will be making sure someone with the same ability and potential comes in to take Bassey’s place. But any aspiring professional looking to further himself will be agreeable to moving to Ibrox having seen how he has flourished in the past 24 months.
Could an Auchenhowie graduate even spring to prominence? Van Bronckhorst, who came through the renowned Dutch youth system as a kid, has shown he is willing to give youngsters a chance. Adam Devine, Leon King, Alex Lowry, Charlie McCann and Cole McKinnon have all received game time. Great things are certainly expected.
Tears will be shed down Govan way when Calvin Bassey moves on, but if his sale allows Rangers to post a profit it will, as much as the Scottish title win or appearance in the Europa League final, be a clear indication their revival is complete.
