In addition to the first team, Rangers F.C. also have a reserve team and an under-20 side.
On 20 April 2004, Rangers Football Club announced the creation of a new company which would oversee the development of the club's youth players. The company, called Rangers Youth Development Limited, is entirely self-funding but completely owned by the club. It attracted four investors from outside Rangers who have invested £1 million, with the club also putting up an initial £2.5 million.
This would leave Rangers F.C. in an unfamiliar position which would mean it has to buy its own youth players from Rangers Youth Development. The company will own the young players and the club will need to bid for them although it will have first option on all the players. If both sides cannot reach an agreement on a transfer fee then a FIFA transfer model will be used. Any profit made by the company will be divided between investors with the majority being invested to fund more youth players.
The main reasons for the formation of the new company is to offset the running costs of Murray Park. However, many of the Rangers fans were opposed to the formation of the new company.
For the 2009–10 season Rangers reserve team withdrew from the SPL Reserve League and will now play friendly games instead. For the 2012–13 season Rangers reserve team entered the Scottish Football League Reserve League.
The side have won the Scottish Premier under-19 League three times, first in 2001–02 and more recently 2007–08. In the seven seasons since the league's foundation, Rangers Under-19s have only failed to finish outside the top three, once. This was a fifth placed finished in the 2004–2005.