Ibrox fan media is stunned tonight as the least expected news in the world drops, like a bombshell, into their laps; UEFA has them on the Financial Fair Play monitoring list along with one other UK based club, named as Manchester City.
The list, which is for clubs who UEFA thinks are breaking, or are on the threshold of breaking, their new FFP regulations has been published today and the shockwaves of it are reverberating around their forums and “official media partners.”
This partly explains their failure to buy anyone in the latter stages of the window, and the indecent haste with which they first moved Aribo and then Bassey on and their efforts to get Glen Kamara and others off the books before the window slammed shut.
UEFA now wants a better look at their finances; they are not asking nicely like the SFA. UEFA can demand compliance and the signs are strong that they will not be messing about. They want a complete accounting, not the partial nonsense with which the media in Scotland are annually fobbed off. This is a red letter day for their club.
Financially gravity was always going to catch up to that club at some point, and it seems as if that point has arrived.
Their fan forums wrongly believe that this is a consequence of the COVID year; in fact it is not. It is a warning about spending levels and in particular their wages to turnover ratio, which some of us long suspected had edged into the danger zone.
This vindicates all the stuff that we’ve been writing on their finances and what amazes me is the apparently genuine shock felt over there about something we’ve been expecting for a long time. This is a developing story, of course … and a big one.
Obviously, we intend to keep on top of it.