Rangers’ latest accounts have revealed that the club paid £1.3m in a payoff to Michael Beale and his backroom staff.
In October, with the team seven points behind Celtic in the Scottish Premiership and humiliated in the Champions League qualifying round, the Gers fired the floundering Ibrox manager.
According to the accounts, Rangers paid Michael Beale an eight-figure sum before acquiring Philippe Clement, the former coach of Club Brugge and Monaco. Football financial specialist Kieran Maguire has now offered some additional background.
In an interview with a major Rangers fan publication This is Ibrox. Maguire demonstrated that the Michael Beale payout is essentially “the cost of doing business” by citing Antonio Conte’s time at Spurs as an example.
“I think it’s what you’d expect,” said Kieran Maguire. “People might say that £1m is a lot of money; Antonio Conte got £26.5m from Spurs.
“Jose Mourinho has earned £77.5m from Manchester United, Chelsea (twice), Spurs, Real Madrid for being sacked.
“That’s almost the whole of Rangers’ income for a single year. So, it’s the cost of doing business.
“For a club where finishing second is not good enough, you’re going to have to take (a hit).
“There are no guarantees in football and it’s an irritant from the point of view of the fans because things didn’t work out.
“If you look at Celtic’s accounts, they got over £10m for their manager (Ange Postecoglou) going to Spurs, so it could’ve worked out the other way.”
Michael Beale payoff “expected” from Rangers
Whilst Rangers supporters still have a salty taste from the Michael Beale era, the payoff involved in sacking the Englishman doesn’t appear too over the top.
Even if they are an expense the club could’ve done with avoiding.
The figures will also allay the fears of supporters who’d feared an even bigger pay off given the reported £5m it took to sack Giovanni van Bronckhorst and hire the former Ibrox assistant.
Rangers were left with no choice but to part ways with the coach after a series of poor performances and a humiliating home defeat to Aberdeen, who’ve just been hammered 6-0 by Old Firm rivals Celtic in Glasgow.
Although Rangers have seen an improvement under Belgian manager Clemnet, nobody is getting too excited just yet, and for the time being, supporters are being cautious in their optimism.
Regarding Michael Beale, the former manager of Rangers was rumored to be making a bold comeback to QPR prior to the London team looking elsewhere.
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