The clock is ticking down towards the announcement of Sports Direct damages creating a perfect storm over Ibrox.
Yesterday one message was proving very popular on social media as supporters wait with glee to find out the full cost of breaking the contract with Sports Direct to fund the Gerrard Revolution and associated pay-offs.
Causing fear and alarm for some, jelly and ice cream for others! pic.twitter.com/gFkvVFNXEE
— Joe McHugh (@videocelts) September 25, 2019
Those figures don’t seem to be much more than guesswork but it wouldn’t be a shock if they turned out to be accurate.
Two years of lost retail sales will create a significant amount, the sort of sum that would concern Close Brothers who made up the shortfall last season when the money ran out in February ahead of incoming season ticket monies in May.
While the figure due to Sports Direct will cause immediate alarm there are other knock on effects associated with the ruling.
Hummel and the Elite Group will both be denied their cut of the action next season while the on-going legal disputes are certain to have had an impact on the sales figures that were presented when the contracts went out to tender.
Bringing in £3m direct from UEFA for reaching the group phase of the Europa League, plus ticket sales at £110 per package, is welcome but no where near the sums needed to satisfy the likely pay off to Sports Direct never mind balancing the books.
The well informed James Doleman isn’t expecting a ruling until next week, the date may be delayed but the damage will be huge for the company that opted to commit £10m in transfer fees to Filip Helander and Ryan Kent rather than make provision for breaching their merchandise and retail contract.
Been asked lots about this so a quick comment.
As far as I know the High Court is on recess until October 1, so don’t see how there could be a judgment in Sports Direct v Rangers until at least then.— James Doleman (@jamesdoleman) September 24, 2019