John Gilligan announces a £10 million update at the Rangers Annual General Meeting.

John Gilligan Provides £10m Update at Rangers AGM

Rangers’ chairman, John Gilligan, clarified that the loan from Danish investor Julian Wolhardt is not £10 million.

During the club’s AGM on December 5, Gilligan addressed the matter as the club is considering restructuring behind the scenes.

He also confirmed that the expenses incurred due to playing at Hampden will result in a six-figure loss, which will be reflected in next season’s financials.

Colin from the Heart and Hand podcast shared on X: “Sam Carson asked if the restructuring included a £10m loan to Julian.”

Gilligan responded, “It’s not £10m. As part of the restructuring, we’ll look into refinancing his existing loans. They won’t be repaid but will be included in the refinancing.”

He also confirmed that the loss from the Hampden situation would be six figures and reflected in next year’s accounts.

Rangers Fans Must Keep Demanding Accountability

The lack of transparency regarding financial issues, such as the specifics of Julian Wolhardt’s loan and the cost of playing at Hampden, highlights the ongoing concerns with clarity at the club.

As evidenced by questions raised at the AGM and the subsequent social media conversations, fans are rightfully seeking clear answers to better understand the club’s financial situation and future plans.

This lack of openness fosters distrust and limits supporters’ ability to engage meaningfully with the club’s future direction.

It is important for Rangers fans to continue demanding transparency. Persistent questioning can hold the club’s decision-makers accountable and encourage a culture of transparency that could bring about necessary changes in governance.

Ongoing pressure from the fanbase might ultimately lead to a more transparent and inclusive management at the club.

In other Rangers news, a first-team player is in his final season at Ibrox and is not part of Philippe Clement’s long-term plans.

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