Rangers reduce overall debt

Rangers have announced a £3.7m reduction in bank debt and a total debt of £27.1m following their Clydesdale Bank Premier League win and subsequent participation in the group stages of the Champions League, in financial results published today.

Rangers announced their bank debt incorporating term loan and overdraft facilities fell from £26.1m to £22.3m in the year ending June 30, 2010.

The Scottish champions also confirmed a turnover increase of £16.6m – from £39.7m in 2009 to £56.3m.

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