Sevco’s Hummel deal in doubt
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After the worst week in their six year history some good news has emerged out of Ibrox.
According to a report in The Sun the troubled company is set to announce a bumper deal with sportswear giants Hummel although the deal could be in doubt due to Dave King’s involvement at Ibrox.
Sanctions are expected to be applied soon against the South African based criminal for failing to make an offer to minority shareholders as directed by the Takeover Appeal Board and Court of Session.
The ‘cold shoulder’ will isolate King and any company that he is involved with.
A three year deal worth £10m is close to being announced although that will be heavily dependent on merchandise sales.
Sevco had to pay Sports Direct £3m to get out of the retail deal that they had with Mike Ashley’s firm.
Hummel are now at the bottom end of the sportswear market supplying kit to Real Valladolid and Utrecht.
Unfortunately for both parties the deal comes at a time when confidence and support in the Ibrox outfit are at an all time low.
Social media has been awash with fans expressing their unhappiness with virtually every aspect of the club including different supporter groups warning that they deserve better.
Players, directors and management have been in the line of fire with a strip launch featuring Graeme Murty and Josh Windass unlikely to lift morale.
With sanctions expected to be applied to Dave King for failing to make an offer to minority shareholders the deal could be cancelled if the South African based criminal remains as chairman of the company.