Key Points
- Rangers boast the most valuable squad in the Scottish Premiership with a total valuation of £155 million.
- The Ibrox club’s valuation sits £32 million higher than their closest rivals, Celtic.
- Derek McInnes’ squad experienced a record-breaking summer investment of £41.8 million alongside a net spend of £26.7 million.
- Overall squad valuation for Rangers increased by 4.6 per cent, with the club holding seven of the ten most valuable players in the division.
- Celtic’s squad value registered at £123 million, marking a 4.1 per cent increase driven by upgrades to new arrivals.
- South African international Olwethu Makhanya emerged as the biggest winner in the latest update, securing a significant £5 million upgrade.
Glasgow (Glasgow Express) October 1, 2026 — Rangers have officially been declared as having the most valuable squad in the Scottish Premiership following the latest market valuation updates. As reported by Transfermarkt, the Ibrox club holds a total squad value of £155 million, placing them £32 million clear of their Glasgow adversaries, Celtic. The updated figures underline a period of intense financial and squad restructuring for the club, even as they chase domestic dominance.
Why is Rangers’ squad value ranked higher than Celtic’s?
The valuation gap between the two Old Firm giants has widened following heavy recruitment efforts during the recent transfer window. As detailed by Transfermarkt, Derek McInnes’ squad was heavily bolstered by a record investment of £41.8 million over the summer, culminating in a net spend of £26.7 million. Consequently, the overall club valuation rose by 4.6 per cent.
In comparison, Celtic’s squad is currently valued at £123 million. While Celtic’s valuation did experience a 4.1 per cent increase of its own—largely attributed to adjustments made for new arrivals—it remains £32 million shy of the benchmark set across the city. Market analysts note that Rangers now command seven of the ten most valuable players operating within the Scottish top-flight division, capitalizing on strategic acquisitions and rising individual player profiles.
Who are the standout players influencing the market valuations?
Individual player valuations heavily dictated the latest league-wide update, with several notable movements across both Old Firm rosters. Despite receiving a £2 million downgrade in the recent revision, Emmanuel Fernandez remains the most valuable player across the entire Scottish Premiership. As observed by Transfermarkt, Fernandez has established himself as a regular international with Nigeria and attracted substantial interest from major European outfits across previous transfer windows, though no formal bids materialized.
The single biggest beneficiary of the update was Olwethu Makhanya. As highlighted by Transfermarkt, the South African international defender received a massive £5 million upgrade, seeing his valuation surge significantly following impressive club and international performances. Conversely, the market review also applied downward adjustments to select personnel, with five players across the league absorbing £2 million downgrades, including Fernandez and Nicolas Raskin.
How does the financial disparity affect the wider Scottish Premiership?
The updated figures continue to illuminate the pronounced financial stratification separating the Old Firm clubs from the rest of the Scottish Premiership. While clubs like Hibernian feature notable assets valued around £3 million—such as Miguel Chaiwa and Josh Mulligan—the collective economic muscle held by Rangers and Celtic dwarfs the remainder of the league.
The extensive financial investments made by Rangers, paired with Celtic’s consistent valuation resilience, ensure that both Glasgow clubs maintain a distinct monopoly over player valuations, transfer records, and high-profile international representation within Scottish football.
Background of the particular development
The recalculation of squad market values by database platforms such as Transfermarkt occurs periodically to reflect current player performances, international caps, age factors, and recent transfer fees. The latest update follows a turbulent and active summer transfer window in Scottish football, characterized by significant spending from Rangers under Derek McInnes to close competitive gaps and reshape their playing squad. Historically, player valuations in Scotland fluctuate dynamically based on European qualification success, domestic trophy contention, and the ability of clubs to market talent to larger leagues in England and continental Europe.
Prediction
This significant valuation milestone and the underlying summer investment will place heightened performance expectations on the Rangers squad moving forward. For the club’s management, players, and supporters, holding the most expensive squad in the country increases the pressure to translate financial muscle into consistent on-pitch silverware and successful European campaigns. For rival clubs and the broader Scottish Premiership audience, the widening valuation gap serves as a stark reminder of the competitive imbalance, raising ongoing discussions regarding financial distribution, youth development pathways, and sustainable competitiveness across the rest of the league.
