THERE WAS some encouraging news for Rangers in their 2018-19 financial results, but the figures also revealed just how far the club is behind “old firm” rivals Celtic. Rangers made a loss of £ 11.3 million despite revenues climbing by 63% to £ 53.2 million, boosted by a lengthy involvement in the Europa League. Chairman David King said the financial year had been positive, although the club is still reliant on cash from shareholders – as witnessed by £ 33.8 million of “soft” loans being converted to shares. Furthermore, the club will need a further injection of £ 10 million to meet its liabilities in 2019-20. As at June 30, the club was holding just £ 1 million in cash. Nevertheless, as Rangers continue…