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An October 1, 2026 report says Rangers moved ahead of Celtic in Scottish Premiership squad value, at a reported £155 million to Celtic’s £123 million. It identifies Olwethu Makhanya as the biggest individual riser, from £2 million to £8 million. Those are figures attributed to Transfermarkt by the report, not a confirmed current ranking: an accessible Transfermarkt snapshot retrieved October 3 lists Celtic ahead in euros.
What the October report says
Yahoo Sports, carrying Herald Scotland reporting, said Rangers had the league’s most valuable squad after the summer transfer window. Its figures put Rangers at £155 million and Celtic at £123 million, a reported gap of £32 million. The report said Rangers’ value had risen 4.6% and Celtic’s 4.1%.
The same story reported Rangers summer investment of £41.8 million and net spend of £26.7 million. These are the article’s reported figures, not audited club accounts or independently verified totals of transfer fees. The report did not establish the precise valuation cut-off behind its comparison.
Players highlighted in the ranking
Rangers
The report said Rangers had seven of the Scottish Premiership’s ten highest-valued players. It listed Emmanuel Fernandez at £16 million, and Youssef Chermiti and Nico Raskin at £15 million each. It named Makhanya’s move from £2 million to £8 million as the biggest individual upgrade.
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There is a qualification to the report’s player figures: it also listed Fernandez, Jose Cifuentes, Raskin and Ben Godfrey among Rangers players whose values had fallen by £2 million. The published account therefore includes both high reported values and downward revisions; the headline upgrade is a separate player movement, not a claim that every Rangers player rose.
Celtic
The report named Benjamin Nygren at £14 million and Kasper Høgh at £12 million, and said Mika Baur received an upgrade.
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Other Scottish Premiership clubs
For wider context, the story put Hearts at £25.4 million, up 15.5%, and said Hibernian ranked fourth after a 10% decrease. St Mirren’s 18.6% rise was reported as the league’s largest percentage increase. These are the October story’s figures, not independently confirmed current values.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why a Transfermarkt snapshot shows a different order
The accessible Transfermarkt Scottish Premiership club-value page retrieved October 3, 2026 lists Celtic at €131.30 million and Rangers at €124.30 million, putting Celtic ahead in that snapshot. It does not corroborate the October 1 story’s pound-denominated ranking. The two views should not be presented as a definite contradiction: the news report does not specify its exact valuation cut-off, and the figures use different currencies and may represent different snapshots.
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Transfermarkt’s May 20, 2026 update is another distinct reference point, not evidence for the October ranking. It said values for 156 Scottish Premiership players had been adjusted and named Fernandez as the largest riser in that update, up €9 million to €18 million. That earlier euro-denominated revision should not be conflated with the October report’s Makhanya upgrade.
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How to read squad-value comparisons
- Check the date: player estimates and squad totals are snapshot-dependent. A comparison needs the same valuation cut-off for both clubs.
- Keep currency consistent: the October report gives pounds, while the accessible Transfermarkt club page gives euros. A currency difference alone does not establish that one ranking is newer or more authoritative.
- Separate squad totals from player values: a whole-club squad estimate and the listed value of an individual player answer different questions.
- Do not treat estimated values as fees or accounts: market-value estimates are not confirmed transfer prices or audited club financial figures. The cited pages do not establish that these estimates predict match results.
- Distinguish amount from percentage: a club or player can have a larger percentage increase without having the largest total value or biggest cash increase.
Sources and reported figures
| Source and date | What it establishes | How to interpret it |
|---|---|---|
| Yahoo Sports carrying Herald Scotland, October 1, 2026 | Reports Rangers £155m, Celtic £123m, Makhanya £2m to £8m, and the other figures described above. | News report attributing the figures to Transfermarkt; exact valuation cut-off is not established. |
| Transfermarkt Scottish Premiership club-value page, snapshot retrieved October 3, 2026 | Celtic €131.30m; Rangers €124.30m. | A different accessible snapshot, in euros; it does not confirm the October report’s pound ranking. |
| Transfermarkt update dated May 20, 2026 | Reports adjustments for 156 players and Fernandez’s increase of €9m to €18m. | A separate earlier update, not the October Makhanya movement. |
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