Dave King’s worries piled up today with news that Sevco have lost out on the latest bout of legal action with Sports Direct.
Since sweeping to power in March 2015 the South African based businessman has been involved in a number of stunts to try and gain more control on the retail and merchandising side of the troubled club.
Rather than trying to negotiate a reasonable deal for all sides King has tried to cut Sports Direct out at various stages but has found the law of the land siding with Mike Ashley’s firm.
Last summer Sports Direct called a halt to the launch of new kit created by Hummel but in November the gear started to be sold online and through one store in Glasgow city centre.
With the money from the Christmas period collected Sports Direct went back to court with The Scotsman picking up on the latest legal issues today:
Bosses at Rangers Football Club have lost the latest round of a High Court fight with Sports Direct boss Mike Ashley centred on merchandise deals. A judge was asked to rule on a disagreement over the meaning of terms of agreements between Rangers and a company in the Sports Direct Group.
Sir Ross Cranston on Wednesday said he had ruled in favour of SDI Retail Services. He said he had made declarations, on the meaning of parts of agreements, “along the lines sought by SDI”.
The judge analysed legal argument at a High Court hearing in London in February. Rangers also lost a round of the fight in October.
Another judge ruled that Rangers had breached the terms of an agreement made with SDI. Mr Justice Teare concluded that bosses at Rangers had made a new agreement with another firm, the Elite Group, without giving SDI a chance to match that firm’s offer.
Last month a new loan was taken out with Close Brothers to see the season out but it looks like a significant seven figure sum from season ticket sales will be needed for legal bills, costs and compensation to Sports Direct.
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