An October 1, 2026 report says Rangers had Scotland’s most valuable squad at £155 million, ahead of Celtic at £123 million—a reported £32 million gap. It names Olwethu Makhanya as the biggest individual riser, from £2 million to £8 million. Those figures are attributed to Transfermarkt by the report, but the valuation cut-off is not specified, and an accessible Transfermarkt snapshot retrieved October 3 lists Celtic ahead in euros.
What the October 1 report says
Yahoo Sports, carrying Herald Scotland reporting, attributed the figures to Transfermarkt and said Rangers moved above Celtic after the summer transfer window. It put Rangers’ squad value at £155 million and Celtic’s at £123 million, a reported difference of £32 million. The report also said Rangers’ valuation had risen 4.6% and Celtic’s 4.1%. Read the report.
The report gives Rangers’ summer investment as £41.8 million and net spend as £26.7 million. These are figures presented by the news story; they should not be read as audited club accounts or independently confirmed transfer-fee totals.
Which players were named?
Rangers’ highest-valued players and biggest riser
The report says Rangers had seven of the league’s ten most valuable players. It lists Emmanuel Fernandez at £16 million, with Youssef Chermiti and Nico Raskin at £15 million each. It identifies Makhanya’s rise from £2 million to £8 million—a £6 million increase—as the largest individual upgrade.
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The same report also lists Fernandez, Jose Cifuentes, Raskin and Ben Godfrey among Rangers players whose values fell by £2 million. The reported individual figures therefore include both increases and decreases, rather than indicating that every Rangers player gained value.
Celtic and the rest of the league
For Celtic, the report names Benjamin Nygren at £14 million and Kasper Høgh at £12 million, and says Mika Baur received an upgrade. It places Hearts at £25.4 million, up 15.5%, and Hibernian fourth with a 10% decrease. St Mirren’s reported 18.6% rise was the largest percentage increase in the league.
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Why Transfermarkt’s accessible snapshot shows a different order
The accessible Transfermarkt Scottish Premiership club-value page retrieved on October 3, 2026 lists Celtic at €131.30 million and Rangers at €124.30 million, with Celtic ahead. See Transfermarkt’s club-value page. That snapshot does not corroborate the October 1 report’s pound-denominated ranking, but it does not by itself prove the report was wrong: the report does not specify its valuation cut-off, and the two figures may refer to different snapshots.
A separate Transfermarkt update dated May 20, 2026 adjusted values for 156 Scottish Premiership players and said Fernandez received the largest upgrade, rising €9 million to €18 million. That is an earlier update, not evidence for the October report’s figures. Read the May update.
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How to read the comparison
- Check the date: squad estimates can change between database updates. A comparison needs a clear valuation date or cut-off.
- Keep currencies straight: the news report uses pounds, while the accessible Transfermarkt snapshot uses euros. The figures are not directly comparable without a specified conversion basis.
- Separate estimates from fees: squad and player values are database estimates, not confirmed transfer prices or club financial statements.
- Do not treat value as performance: these figures describe estimated market values; the cited pages do not establish that they predict match results or on-pitch strength.
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