Two days before the Rangers International AGM the Daily Record has turned the spotlight on a small matter that could wipe out Micky Beale’s transfer war-chest.
Last February a deal was struck with Sports Direct for £8.5, plus legal costs over a long running dispute over how Mike Ashley’s firm were replaced as the club’s retail partner. Effectively the Nathan Patterson windfall and more went to the former Newcastle owner.
Detail of the settlement has yet to surface, it could be too early to say that Sports Direct have been removed, Ashley’s firm are the high street outlet to but top quality Castore Sports kit.
Dave King’s spell as chairman saw constant legal battles and disputes, other than with Carlos Pena it seems that the Ibrox outfit came out second best every time.
Looking towards the AGM the Record highlights:
Lawsuits
Rangers haven’t been strangers to a court battle in the last 12 months. It all started with that lengthy, messy battle with the SPFL over their refusal to display branding with league sponsor and online car dealer cinch due to a conflict with the club’s own deal with chairman Douglas Park’s motor group. It was a battle they eventually won as they were vindicated over their stance having said cited a rule in the SPFL rulebook that they didn’t have to oblige to a sponsorship contract “if to do so would result in that club being in breach of a contractual obligation entered into prior to the commercial contract concerned.”
But having won that, they now find themselves at the centre of two more battles. Elite Sports Ltd, who have since gone into administration, are the exclusive brand partner of Hummel sportswear, and are claiming breach of contract following the collapse of that agreement. And the second dispute is over Gers withdrawal from the Sydney Super Cup – the decision to take part alongside rivals Celtic in the first place will almost certainly come up – which led to fan protests. The club face a combined £11.1 million payout.
The Elite and Sydney Super Cup stories surfaced after the 2022 accounts were published showing a £900,000 loss for the year. Most businesses would have a fund set aside in case those cases come to fruition.
The Memorial Wall and WiFi disputes remain unresolved.
Lol so what’s the reason behind the daily sevco breaking rank with the new klub from ibrox in putting this bad news out there.
I reckon King the CHISLER is behind this,a wee spanner in the works before the AGM putting the pressure right on Duggie 5 chins.
This also just about tells the klan fan base that £11 million in court cases and legal battles that no cash is available to buy players in January or in the summer.
When are the due to repay the COVID (x2 ) Scottish Government grant ?
Given that the Scottish government is currently The SNP (who are the best of the best by a country mile and could only be bettered by a party called – Scottish Sinn Fein – ) then with The SNP in power they will never pay it back…
It’ll be the taxpayer again… all I can say is Thank Fcuk that I’ve not paid tax for the last 25 years to fund these Liebrox barstewards – both the old club and the new club !
And the elephant in the Blue Room is called Dumbo.
That’s an awful lot of ‘spearmint chewing gum ,’ to be sold on matchdays ,to help with the finances ……Then again , combined with blue pencils and the Rangers socks on sale ………
And all this time, there was me thinking it was the chairman,Parks ?
They may get a lone from the LOO, that’s the loyal orange order Motherwell who have just been caught trying to get a £300,000 refit without paying vat, according to the sun
Why does the Eddie Howe story keep coming up on Celtic news.? He has nothing to do with our club and is very old news