One well informed Twitter account has claimed that Sports Direct have delivered a bill for losses of £11.5m to Sevco.
In the longest running battle of their 10 year existence Sports Direct first took action in the summer of 2018 when they were forced out of the picture as Dave King announced a world record merchandising deal with Hummel.
Initial actions by Sports Direct meant that the iconic chevron kits weren’t available until September 2018 with the Danish firm cutting their three year contract short by 12 months.
Sports Direct have gone into detailed litigation with the Ibrox club also having to pay the legal fees for the firm run by Mike Ashley.
At the last High Court hearing Sports Direct were granted access to the contract with Castore Sport in order for them to calculate the losses caused by the breach of contract.
SDIR has submitted the damages bill to THE RANGERS FOOTBALL CLUB LIMITED for the sum of £11,532,484.31?
*Pay the bill within 60 days?
*Ring fence the amount?
*CVA territory?
GASL might be the next Celtic legend? House of cards? pic.twitter.com/oxbY8nJyZc— Celtic SC©®™ (@Celtic67Fins72) February 20, 2022
Earlier this season, the final figure published in the accounts for losses was £23.5m.
Rangers have submitted their end of fiscal year 2021 to auditors.
*Preliminary £31,682,536 in losses.
*Short term liability £16,533,348**.
*Long term liability £15,554,544.Technically insolvency if no soft loans and/or Closed Leasing loans.
**Includes HMRC https://t.co/VQEnyaTIpm
— Celtic SC©®™ (@Celtic67Fins72) October 5, 2021
If the Sports Direct bill has to be settled before Season Ticket money comes in in May it might require further share issues to settle with Big Mike.
Oh dear. How sad. Never mind.
As good a time as any to wind the klub down, walls/cards come tumbling down…
New it was going to be bad, but, WOW, FKING WOE, (mean woe), for the confetti salesteam. Lots to dig deep for in there.
I knew they should have paid the kids face painter,and the corner shop for the rolls,now these poor people will have to turn up at court again to try and get their money,ESTABLISHMENT falling,if so should not be allowed to disgrace this lovely city of Glasgow again, after all we need more affordable homes, demolish the piggery then disinfect the land
Pat a cake pat a cake bakers man bake me a cheque as quick as you can,hopefully big Mike will put an end to this vile outfit!
Big fatty Park better get selling plenty of cars and hiring out more buses, and his fellow directors need very deep pockets or they can sell one of their super star players. Ashley will if true and agreed with high court judge will want to ring fence his payment or put a charge on assets?? interesting times ahead for the bigots or they could issue more confetti share( penny shares)they could be in a mess again just trying to keep up with celtic what shame lovely.
All because. They discovered Michael James Ashley was a Roman Catholic
Maybe they can get a few bob for scotty arsefield—keep the lights on for a couple of days?
That might get them enough for a candle I suppose….
Or the loyal shart in hand sidekicks can return some lolly to wangers fc but if all else fails, I’m sure there’s some funny lunny left in the rotten trees~~not much mind..!
Go get them Mike!
I hope the bastards go down again once and for all ,won’t be missed by any other teams in SPFL.
This will be covered simply by selling El Buff for £50m in the next window….
I’ll get ma kagool !!!
HH
Could we have liquidation and administration? If so and they come back again will it still be the same club and will they still claim a ludicrous 155 titles
Feck them Horrible stinking bigoted arse bandits.