Rangers overtake Celtic as Scotland's most valuable squad at £132m

Transfermarkt figures put Ibrox club on top of the money table

Rangers have overtaken Celtic as the club with the most valuable squad in Scotland, with the Ibrox side's playing staff now valued at £132m after a 4.6% increase over the summer.

That surge has put Rangers nearly £19m clear of their Old Firm rivals at the top of Transfermarkt's Scottish rankings — a notable shift in the financial pecking order between the two Glasgow giants.

Heart of Midlothian sit third on the list at £22m, their value boosted by a 15.5% rise over the summer window following their strong start to the season.

St Mirren can lay claim to the biggest percentage increase of any club in the Premiership at 18.6%, while Hibernian have suffered the biggest drop, with their squad value falling by 10%.

While transfer market valuations are an inexact science, the figures underline how aggressively Rangers backed their squad in the summer window — and how the balance of financial power has shifted in Glasgow this season.