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Stewart doubles down on Rangers questioning and insists model isn't sustainable

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Outspoken pundit Michael Stewart has once again questioned the business model of Rangers as they near a permanent deal for Ianis Hagi.

The former Ibrox trialist had earlier wondered how Rangers were able to afford a £5m fee for Hagi on top of the losses they incurred over the last year.

And after a debate with ex-Rangers midfielder Alex Rae, Stewart has called into question the club's business and insists things aren't "sustainable".

And he described signing Hagi for £5m on top of the £10m worth of transfer fees from last season as 'risible'.

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Stewart said: "Come on seriously you think this is all fine and dandy? A business that has lost money every year isn’t a model that is sustainable especially when you start talking about transfer fees of circa £10m last year and Hagi £5m this year on top. This is risible stuff.

The 39-year-old had earlier clashed with Rae over the losses that the Ibrox club have suffered in recent times.

Rae insisted that the losses have been covered by investors, and used Douglas Park's Q&A as proof of that.

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And Stewart responded: “Alex the answer doesn’t even cover the question posed below, never mind the other queries I had.”

Rae said: “The losses plus the monies needed to get through the remained of this season are being picked up by investors who convert the loans into shares like previous seasons.

“As for signing players after deferring wages, this is an issue across Europe but won’t stop transfers.”

The argument started after Stewart previously tweeted: "I see some media reporting that Rangers are closing in on a £5m signing of Hagi. Can anyone explain how the club lost £11m, was needing £10m to see the season out, then Coronavirus hit and has deferred huge amounts in wages but can be linked with a £5m signing?"




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