Rangers chairman John Bennett has revealed the club have spent £11.5m on permanent transfer fees in 2024 alone.

The Ibrox chief explained the cost of incoming signings this year as he provided an update to supporters over a host of issues.

Bennett confirmed the hope for Rangers to return to Ibrox in September and told supporters news on a new chief executive could come 'pretty soon'.

The chairman went on to detail the significant transfer spend this year alone as he insisted the club will adopt a combined short and long-term player trading model.

In 2024 to date, Rangers have spent £11.5m on player acquisitions - not including any fees spent on loan signings.

Bennett explained the Rangers board have previously "backstopped" transfer business but vowed he would aim to shift the process moving forward.

So far this year, the £11.5m on permanent transfers could include fees paid for Mohamed Diomande, Hamza Igamane, Jefte, Connor Barron, Liam Kelly and Clinton Nsiala.

Oscar Cortes joined on loan again with an obligation to buy while Vaclav Cerny also agreed a move to Ibrox on loan from VfL Wolfsburg.

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He explained: "There is often talk about the phasing and I have seen that talked about the phasing of buying and selling. If you actually look at the facts, not just in this window but prior to this window, how has Rangers operated?

"And I actually want us to get away from how we have operated, but how we have operated has been...the board has essentially backstopped each window. The board has backstopped each window.

"Yes, I have seen player plans in the past where outgoings will match incomings in financial terms.

"That could be Plan A, I have rarely seen Plan A executed, it always seems to be, 'No, we have to backstop it' and that's what we've done. That's again what we have been doing in 2024.

"If I take 2024 the January window and this window, excluding loans, we're double-digit millions in commitments in transfer payables.

"Excluding loans we are about £11.5m in thus far on transfer payables. That is permanent transfers not loans, and loans, they are not free they come with loan fees with agent fees etc.

"So that is where we are in terms of 2024 - about £11.5m spend thus far."