The news that these legal proceedings are underway will not come as a surprise to regular readers.
Once the Sports Direct case was settled, the Danish outfit could begin litigation against the ten-year-old club.
In the RIFC year-end accounts, it was stated that several legal disputes were ongoing.
This is undoubtedly one of them.
Many of you will remember the gushing pish from the Stenography Corps in 2017 when Sports Direct did a deal with the new regime in the Blue Room.
Tuning out the noise level, I reported then that the new deal was highly advantageous to Ashley.
The Ibrox klanbase sneered at this narrative and punched the air in triumph.
Even they now know that they were played.
Mr King appears to have agreed with me apropos the 2017 deal and, in a glib and shameless way, decided To Do Walking Away from a legally binding contract.
That ended earlier this year with a total capitulation by the Sevco High Command.
No surrender!
Really?
The devil remains in the retail.
The Ibrox klanbase believes that Big Mike has left the stage.
My guy in Shirebrook is entirely confident that Sports Direct still has a retail relationship with the basket of assets.
Moreover, he chortled at the figure mentioned in the RIFC accounts regarding the total settlement.
Then there’s the Castore angle.
Is it really plausible that Mike Ashley would allow a commercial competitor to sign up with the football club he owned at the time?
Indeed the new regime at Newcastle United has been stunned at the favourable terms given to Castore by the St James’ Park outfit.
Dear reader, the devil definitely remains in the retail.
Just sayin…
Discover more from Phil Mac Giolla Bháin
Subscribe to get the latest posts sent to your email.
re stars, you do get some continental clubs that put them on kit to celebrate domestic success (Juve, Ajax). Unfortunately, Rangers (1872-2012) doesn’t exist to put stars for 54 titles on it’s crest – anymore.
Did you read the story of the extremely favourable kit contract big mike tied the new owners of newcastle into before he sold the club .
Think they get £7m per year .
Of course it just happens to be castore who benefits from this very lucrative kit deal .
Strange thing to do to a company who had screwed you over in a deal previously
Hmmmm
It’s Beginning to Look a Lot Like Christmas, sevco that ramshackle gift that keeps on giving….
Phil, has there been share buybacks at Ibrox? . This often happens when a company sell lots of shares then make some profit (player sales, Europa Run). That would be a payback to the directors who swapped loans to shares. And would explain why there is no cash for player purchases
Rangers didn’t make a profit!
I doubt that the right “conditions” for a share buyback have ever existed at Ibrox.
Now we know for sure where the recent transfer fee income will be going to.
It seems that GVB should not have been the only one to have resigned.
The board were already getting pellets from their support. That will be magnified following the news of breaking contracts et al.
They do seem to enjoy a good court case though.Angry club
If it is correct that the accounts show directors being repaid their “soft loans” is it a case of getting their money out while they can knowing there will be further drains on any income in the near future? This puts to bed the comments some poster made previously about how great it was that the sevco directors were putting their own money into the company/club/holding company and Celtic directors should do likewise. The sevco directors only put money in to fill the potholes and were always going to recover that money somehow. Either as loan paybacks or in share value. It was never a benevolent action although shares may take some time to repay the money as it relies on their value and someone wishing to buy them. Celtic had no potholes to fill. Their business was self sustaining even through Covid.
Regarding the stars on the shirt. I’ve said this many times. There is no way sevco would just remove those without being compelled to do so. It was only ever an attempt to get one over on Celtic’s real single star. I can only imagine UEFA may have had something to say because you can be sure the Scottish football authorities never would and it wasn’t in sevco’s interests to remove them of their own accord.
JS
No surprise that the figure stated in accounts regards settlement to sports direct was shall we say massaged
It was laughable the media crowing over how well they had done when accounts showed they had made just under a million pound loss
And not one of the media poodles dared question the issue of more litigation .
Not to mention the millions allegedly due to HMRC and others
They now have the pay off for GVB and his staff
Now Hummel
And most likely the organisers if the Sydney tournament
And them you have the senior Rangers reporter at a Scottish media outlet giving airtime to the GASL
Genuinely what decent manager would risk their reputation getting involved with all thus going on in the background.
GVB is probably relieved to be out of it to be honest ,who can blame him
Wow. After the Australian u-turn and the manager’s sacking, this is another financial blow for a club that is struggling to find the money to sign players. It’s lucky that there are no Going Concern issues at Ibrox!
probably less things to fall off the Cstore gear….
Phil, what’s happened to the stars on the shirt ?
In the image you post, they’re present. But they aren’t there on ANY strip that I’ve seen them wearing this season, domestic or european.
Any ideas ?
No idea whatsoever.
It does seem strange, though.
Strange that they were there allowed in the first place.
I’d be willing to bet money that UEFA told them to knock it off.
Having just looked at the official UEFA website for answers (https://www.uefa.com/uefaeuropaleague/news/0254-0d7cf9257877-0e4da11a0c48-1000–club-facts-rangers/ ), It appears that this page was last updated in May 2022, so I can only assume that any directive was submitted to Sevco after this time, although I would also imagine that this season’s kit was already in the late stages of production. Knowing Castore from their initial “teething problems”, its likely that the stars were there, but came off in the washing machine. 😉😉😉