Rangers say financial results will not impact Steven Gerrard's budget

Rangers' financial results will not impact Steven Gerrard's budget, says managing director Stewart Robertson.

However, they declared a £3.4m increase in turnover to £32.6m and a rise in earnings before tax and interest from around £100,000 to £4.2m.

"These figures were known prior to Steven coming in," Robertson told Rangers TV.

"It's not had any impact on the funds that are available to Steven to spend.

"The fundamental message is that the board and investors are still backing the club and investing in both the football side and non-football side of the club."

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Robertson added that although the club chose not to sell striker Alfredo Morelos in January and in the summer, players will be sold in the future.

"We could have mitigated a loss by selling players," added Robertson.

"We had a very sensible offer for Alfredo Morelos in January but the board took the view that we wanted to support the team and give us the best chance of going forward, strengthening the squad and to make sure the foundations are in place for the season.

"We will sell players, that will happen, it needs to be a key part of our business model going forward, but we'll do it when it's right for Rangers to sell players and not just because of speculative offers coming in."