Finance expert Stefan Borson reckons it won't come cheap but will return around £4m per season in the long run
09:41, 11 Nov 2025Updated 09:43, 11 Nov 2025
Ibrox stadium
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Ibrox stadium(Image: SNS Group)
Rangers could increase revenue by around £4million per season if they press ahead with the board's ambitious plans to expand Ibrox again.
And given they're already rivalling the Premier League's best for gate receipts, there's no reason to think it won't be worth it.
That's the view of football finance expert Stefan Borson who has offered a revealing insight into the ambitious plans laid out at a recent Fan Advisory Board meeting.
The San Francisco 49ers' investment group are knee-deep in plans to expand Leeds' Elland Road home by more than 15,000, a groundbreaking £650m project that will make their stadium one of the largest in the Premier League.
Given Ibrox already houses 51,700 after the infamous expansion of 2024 that left them briefly homeless, plans at Rangers are less extensive. But it still won't come cheap.
At a recent round-table meeting laid out by the FAB, Andrew Cavenagh and Co revealed long-term plans to lower the pitch and add seats to increase the capacity by around 4,000.
Borson believes that would increase gate and hospitality revenue by around 10 per cent – worth around £4m per season to the Ibrox coffers.
It would cost a fraction, if not an insubstantial one, of the £650m they are splashing out on Elland Road – but he reckons it might just be worth the investment.
Borson told Football Insider: “Well, 4,000 is probably another 10 per cent, so it’s worth about £4m a year.
“Then the equation is, well, what’s the build cost for those seats? But it’s worth probably right now £4-5m a year, I would think, 4,000 seats with some hospitality with it. Their total gate receipts and hospitality for 2024 was £44m. It was £40m for 2023.
“I mean, Rangers have actually got quite high gate receipts compared to even a lot of Premier League clubs, just because of the size of the stadium and the club. It’s not crazy, but another £4m a year on revenue is good.
“Obviously, it’s a pretty high margin because if it’s not hospitality stuff, then you’ve already got all of the other costs that are already being spent on those parts of the stadium.”
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