IBROX annual accounts have revealed Rangers received a significant compensation fee in Steven Gerrard's exit for Aston Villa.
Rangers shared their yearly financial figures for the year ending June 30, 2022.
And included is information on Gerrard's departure for Aston Villa last November.
Page 41 of the club accounts details notes to the financial statement including information on a £4.25m payment received in "compensation income".
And the document goes on to confirm the payment comes from the "management team" departure.
A clarification reads: "Compensation income relates to amounts received following the departure of the previous football management team."
Gerrard made the move to the Premier League in November where he led Aston Villa to a 14th place finish.
However, this season the former Ibrox boss struggled before being dismissed after two wins in the opening 12 league games.
Giovanni van Bronckhorst replaced Gerrard at Rangers and achieved Scottish Cup success and a run to the Europa League final last season.
But pressure is mounting on the Rangers boss with fans frustrated as the club slipped seven points behind Celtic last weekend.
Rangers fell to a 2-1 defeat to St Johnstone with audible boos at full-time and sections of the support calling for Van Bronckhorst to be sacked or leave the club.
Van Bronckhorst remains in place as Rangers face Hearts tonight in league duty looking for a reaction to the weekend disappointment.
Steven Gerrard has been priced among the favourites by bookmakers for the next Rangers boss should Van Bronckhorst be relieved of his duties.
But Alex Rae told Grosvenor Sport that he reckons fans would oppose a return for Gerrard and instead favour a "fresh start".
He said: "It's always difficult to talk about managerial changes when there's still a manager in charge.
"There are a few managers linked with the job and that will always happen when performances aren't quite at the level but my understanding is, from the people that I speak to, that the fans would want a fresh approach as opposed to re-hiring Steven Gerrard and that's partly because of the way he left.
"Gerrard did an interview with BT Sport and Emma Dodds saying 'do I look happy?' so there'll be a lot of fans out there who wouldn't be too keen if he was to be re-appointed."
READ MORE:
Giovanni van Bronckhorst's Rangers annual report in full
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