Club 1872 have played the ‘complex legal issues’ card to explain away last week’s devastating lega verdict in favour of Sports Direct International against their club.
James Blair, a director of the football company and also Club 1872 had his honesty exposed in the ruling which relates to the attempt by the club to prevent Sports Direct from having the opportunity to get matching rights to the merchandising and retailing of replica kit.
The Judgement found against Dave King’s company on every aspect concluding that Sports Direct International were due costs of ‘many millions of pounds’.
Club 1872 have poured millions of pounds raised by supporters into Ibrox through various share issues but not hold approximately 6% after recently voting to dilute their shareholding in favour of King, Douglas Park and others.
Fans have been looking for an insight into the latest legal defeat but got little from a statement issued by Club 1872.
This is a complex and far reaching legal dispute and there are a number of aspects of it still be to decided by the court. We feel the same frustration as all supporters when there are setbacks in that fight but the goal remains the same.
We would remind supporters that Mike Ashley and Sports Direct were and remain a malign influence on Rangers Football Club. Club 1872 purchased a large portion of Mr Ashley’s shares in 2017, partly to remove one aspect of that toxic influence. We look forward to the day when he and Sports Direct no longer have any dealings with our club.
We are fully supportive of the Rangers board’s efforts to stand up to Mr Ashley’s attempt to bully the club into submission. Mr Ashley’s approach on this matter continues to make no commercial sense – given the position of the vast majority of the Rangers support towards Sports Direct – and appears to be purely vindictive. We would urge individual supporters who are frustrated with these ongoing court battles to consider what action they can take to remove support for any and all parts of Mr Ashley’s business empire, and encourage others to do the same.
With a substantial loan from Close Brothers due to be repaid in February 2020 the arrival of a £10m plus bill to Sports Direct or failure to reach the group phase of the Europa League could have a devastating impact on the current club.
The statement has been well received by Ibrox fans on social media.
CLICK HERE for the full Judgement.