The club from Ibrox have issued a classic Don’t Panic message in the wake of yesterday’s Court publication of their long running dispute with Sports Direct.
Mention of a payout running to ‘many millions of pounds’ came as something of a surprise to supporters who had raced out to buy Sports Direct merchandise on the request of Dave King in June 2017.
Two years later kit supply is very limited with many distributors afraid to touch the stock after the Ibrox company decided to renege on their new deal with Sports Direct, a £3m payment was made to Sports Direct in 2017 to cancel the old deal and set up a replacement.
Tonight the club stated:
RANGERS would like to reassure supporters that matters concerning the litigation currently being brought against it by SDI Retail Services Limited are not as reported.Rangers was disappointed by the terms of the recent court Judgment but respects the decision of the court and will meet any financial award made by the court.
No such award has yet been decided and at this stage Rangers does not even know how much will be sought. Contrary to some reports, the Judge has not determined that the contractual cap on damages will not apply. Rangers would also like to reassure supporters that no steps have been taken to stop supporters being able to buy this Season’s Replica Kits.
Yesterday’s ruling is likely to see Hummel and the Elite Group consider legal action against the club with sales projections way below expectations.
