Chairman John Bennett pointed to the figure he believes is key to future financial success at Rangers.
The Ibrox club’s recently published accounts for the year to June 30, 2023 revealed a turnover of £83.8million, an operating profit of £250,000 but an overall net loss for the year of £4.2million, despite the sale of Calvin Bassey and Joe Aribo contributing to a record player trading profit of £23.6million.
Speaking at the club’s AGM at New Edmiston House on Tuesday morning, Bennett said: “I am focused on more than one number, but there is one number that should be focused on in that profit and loss account.
“Yes, this club, for the second year in a row, printed an operating profit but that was post-player trading.
“This club last year lost £10.5million, pre-player trading.
“I would ask you please to keep your eye on that £10.5million. It has to go away.
“This is a new executive team for a reason and it is tasked with not only growing the club, but driving through operating efficiencies.
“It is a cultural change and it is under way.
“That £10.5million has to become, at worst, zero. Not every club operates at that level, in other words at minimum break-even prior to player trading.
“They need player trading to have a model. We want to take Rangers to a place where it breaks even or better. I can tell you right now, every day it’s turning – and it will turn.”
Sancho outshines Mbappe as Dortmund seize initiative against PSG
Manchester United loanee Jadon Sancho issued a reminder of his star quality as Borussia Dortmund beat Paris Saint-Germain 1-0 in the first leg of their Champions League semi-final tie on Wednesday.
Niclas Fullkrug scored the winner after 36 minutes, taking in Nico Schlotterbeck's floated pass before driving a low shot beyond PSG goalkeeper Gianluigi Donnarumma.
Fullkrug has now been involved in six Champions League goals this season (three goals, three assists), the joint-most by a German player in their debut campaign in the competition, alongside BVB team-mate Marco Reus in 2012-13 (four goals, two assists).
The star of the show, however, was undoubtedly Sancho.
He tormented Nuno Mendes throughout a lively performance, creating three chances for his team-mates – a game-high tally alongside Julian Brandt, Kylian Mbappe and Achraf Hakimi.
Sancho had completed seven dribbles by the halfway point, more than he managed in any full game for the Red Devils.
By full-time, that number had crept up to 12, the most by any player in a Champions League semi-final since Lionel Messi completed 16 for Barcelona against United in April 2008, and the most on record by an Englishman at any stage of the competition (since 2003-04).
Sancho even outshone Mbappe, who struck the far post with a curling effort early in the second half but was limited to just three shots totalling 0.17 expected goals (xG).
PSG did have their chances, though, with their total of 14 shots their most without scoring in any Champions League game since the second leg of their 2020-21 semi-final against Manchester City (also 14), when they were beaten 2-0 and eliminated from the competition.
Dortmund are now unbeaten in 11 straight Champions League home games, winning seven and drawing four.
It's their longest ever such streak at Signal Iduna Park, and they have also won four straight knockout games on their own turf for the first time in their Champions League history.
While Dortmund have a valuable lead to protect in Paris next Tuesday, Edin Terzic will be expecting a strong reaction from PSG.
The Ligue 1 champions have progressed from two of their last four Champions League knockout ties when losing the first leg, with the first of those successes coming against Dortmund in the last 16 in 2019-20 (1-2 away, 2-0 at home).
Borussia Dortmund 1-0 Paris Saint-Germain: Fullkrug hands hosts first-leg win
Niclas Fullkrug fired home a first-half winner as Borussia Dortmund claimed a 1-0 victory over Paris Saint-Germain in the first leg of their Champions League semi-final tie in Germany.
Nico Schlotterbeck floated a pass into Fullkrug's path and the Germany international brought the ball under his spell with a wonderful touch before drilling a low shot past Gianluigi Donnarumma in the 36th minute.
PSG, on the back foot for much of the first half, improved after the break and struck the woodwork twice in a matter of moments just after the restart.
Kylian Mbappe curled an effort against the right-hand post before Achraf Hakimi scuffed a shot against the other upright on the rebound as Edin Terzic's side escaped with a first-leg lead.
The teams will meet again at the Parc des Princes next Tuesday, with the winners of the tie facing either Bayern Munich or Real Madrid – who drew 2-2 in their first leg on Tuesday – in the final at Wembley Stadium.
Liverpool 4-3 Chelsea: Blues' title hopes suffer huge hit as Bonner decides seven-goal thriller
Chelsea's hopes of a fifth straight Women's Super League title are hanging by a thread after a dramatic 4-3 defeat to Liverpool, with Gemma Bonner scoring a stoppage-time winner for the Reds.
Arriving at Prenton Park six points behind leaders Manchester City with two games in hand, Chelsea had no margin for error but finished on the wrong end of a remarkable contest.
The Blues started brightly and went ahead through Agnes Beever-Jones' header, with Catarina Macario being denied a second by a marginal offside call. However, Liverpool hit back early in the second half as Sophie Haug looped a header in from Marie-Therese Hobinger's corner.
Matt Beard's Reds went ahead for the first time when another Hobinger corner was flicked in by Bonner at the near post, though Chelsea made it 2-2 with 10 minutes to play as Beever-Jones rifled into an empty net after Niamh Charles drew Teagan Micah off her line.
Emma Hayes would have been expecting them to kick on from there, but Liverpool were back ahead within 59 seconds as Leanne Kiernan latched onto Ceri Holland's pass to slot home.
Chelsea drew level for a second time when Macario's shot deflected in off Micah, but they were caught with a sucker punch as they chased a winner, Bonner glancing yet another Hobinger corner home to leave Hayes needing a miracle to deliver a farewell title.
Data Debrief: Hayes' hopes fading
Future United States boss Hayes was furious with the officials after Chelsea exited the Women's Champions League against Barcelona on Saturday, but a fast start to Wednesday's game would have given her hope of a response.
However, Chelsea let a chaotic game get away from them after the break, losing a league match in which they led at half-time for the first time since September 2022 – a 2-1 loss at Liverpool.
Having been eyeing a quadruple just a few weeks ago, Chelsea now need an incredible collapse from City if they are to retain their title – given the Citizens' superior goal difference, just one more win may get them over the line.
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