Finance Expert: Rangers bill could hit £10m+ for Ibrox plans as £1bn example emerges

After possible future plans were made public,

Dan Plumley maintained that raising Ibrox to 70,000 seats may cost the Rangers tens of millions.

On November 7, the Glasgow Times revealed that the Rangers board was scheduled to discuss the “huge” plans,

which included the addition of up to 10,000 seats.

The financial expert revealed that, considering the £1 billion cost of Tottenham’s new stadium,

it is possible to reduce the price by securing the significant funding required for projects like this.

He exclusively told Ibrox News, “It’s not cheap.”

“There is no stadium extension. You always look at ballpark figures,

but a brand-new stadium costs £1 billion to build for Spurs,

and a brand-new stadium costs Everton around £500 million. You can scale down from there.

“To put 20,000 seats on and do some major work, you’re looking at, at least tens of millions,

so that’s ballpark; it may be more, it may be less, but it’s still a significant investment,” the author states.

“If you are serious about doing that, you can see the potential down the line, and of course,

the long-term benefits will outweigh that cost, especially for a club like Rangers.”

“I think the play is a solid one as a long-term strategy, but it comes at a high cost.

The fan base is going to be there forever, and they probably will be there forever because

they will be playing in Europe most of the time and the greater appeal of Rangers as a club.

“That’s where you have to see the benefit and the return on investment later on,

and many teams are now examining that as well, updating stadiums, expanding their capacities,

and considering what they can do with the stadium after regular gamedays and how to make money from it.

“There is a genuine financial component to that, and it is appropriate that clubs are investigating it,

but in the interim, the cost of it must be covered, and it is not inexpensive.”

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