RFC negotiate new 12 month retail deal with Sports Direct

[JFK-1 1,693]

Ordered one of them a home top and 5 mugs!

 

Nice one. We're all like kids looking through catalogues pre Xmas.

[JFK-1 1,693]

I also just got another shirt. The red and white away shirt. Always liked that one anyway.

 

[ian1964 10,761]

Mike Ashley to sell stake in Rangers as Sports Direct and Newcastle owner rips up Ibrox contract

 

Ashley to sever all ties with Rangers after agreeing a deal to sell his shares

 

Sports Direct owner has also ripped up the toxic retail contract with the club

 

Rangers set to net an additional £5m a year via a huge increase in shirt sales

 

By Stephen Mcgowan For The Scottish Daily Mail

Published: 01:18, 22 June 2017 | Updated: 01:20, 22 June 2017

 

Mike Ashley will sever all ties with Rangers after agreeing a deal to sell his shares in the club.

 

The Sports Direct and Newcastle United owner ripped up the toxic retail contract on Wednesday which saw the Ibrox outfit receive just seven pence from each pound spent on club merchandise.

 

A renegotiation of the previous seven-year arrangement led to both parties concluding a new 12-month tie-up likely to net Rangers an additional £5million a year via a huge increase in shirt sales.

 

And, as part of the deal, Sportsmail understands Ashley will sell his 8.92-per-cent stake in Rangers to supporters’ groups and an unnamed overseas investor.

Ibrox chairman Dave King was tight-lipped on the future of Ashley’s stake but conceded a long-running and acrimonious joint venture is close to a final parting of the ways.

 

‘I can’t talk about it but I would expect an announcement on that soon,’ he said. ‘Mike Ashley’s shareholding in the club was linked to an integrated retail deal. ‘So I would imagine he is probably less interested in the need to have a shareholding in the club at this point in time.’

 

Expressing ‘relief’ at the new deal, King expects it to stabilise Rangers’ fortunes following prolonged financial turmoil.

 

With Ashley appearing to be out of the picture, the last remaining obstacle to a rights issue is also effectively gone.

 

The board are now likely to call an EGM to push through plans to raise £16m to pay off loans from King and shareholders Douglas Park, George Letham and George Taylor.

‘One of the priorities for us over the last few years — the biggest if you ignore getting back to the top flight and into Europe — was the resolution of the retail deal,’ said King.

‘It has been by far the most significant and challenging. Myself and (company secretary) James Blair have been working on this for two years.

‘It has been very time intensive. I’ve spent more time on Rangers litigation over the last two years than I have on my own businesses. Much more.

‘It’s been a monumental effort but it was so critical to the club we got something sorted out.’

 

Rangers, meanwhile, have lodged an improved third bid for Norwich City midfielder Graham Dorrans.The Canaries want £1.5m for the Scotland cap but are willing to sell for the right offer.*

 

http://www.dailymail.co.uk/sport/football/article-4627374/Mike-Ashley-sell-stake-Rangers-deal.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490

[JFK-1 1,693]

It may settle down to an average £5 million a year but what's the betting they're being swamped right now. Just ordered two shirts myself. Sell a million quids worth today. LOL

[chilledbear 16]

Ordered one of them a home top and 5 mugs!

 

Who are the 5 mugs??

 

That's the grandkids suitably attired, now for the sons birthday.

[Davie P 4]

If Carlsberg did weeks...

Rangers back in Europe

Sign Morelos

Announce new DOF

Retail agreement reached

Ashley (and sp**s?) to sell shareholding

Warburton, Weir and McParland drop their civil claim

Sign Herrera and Pena (today?)

 

Add in the improvements at Ibrox and Auchenhowie over the close season and it becomes clear that we are at the very least, on an upward trajectory.

 

After all the nonsense that we have suffered over the past 5 years, that's how it feels to be Rangers!

[Frankie 8,652]

Welcome though today's news is I think it needs to be remembered we still might not be getting what we might expect from both PUMA & 32RED. In comparison to other clubs that is.

 

AFAIK PUMA is in its final year and it will be interesting to see what happens there. Does today's news now mean Rangers can deal direct with PUMA? Or a new supplier when the PUMA deal runs out?

 

I was very surprised, I have to say, to see the 32RED deal getting extended.

 

RFC and 32Red would have factored yesterday's announcement into the new sponsorship deal. The agreement may not be the best we've ever had but it will be significantly better than in recent years.

 

The one year retail deal is quite clever. It allows RFC and SD to see if they can work together for mutual benefit and allows further negotiation dependent on this season's sales. It also ties into a possible change of kit supplier next summer as well.

[lenny3k 668]

Ordered myself a shirt and even treated the missus to one too

[trublusince1982 243]

Managed to get two tickets for Thursday there online. Abroad the now and didn't think I would have a chance! Happy days! Hard to see on phone but took 6 tries to find an area with two seats together.

[aweebluesoandso 290]

Been listening and reading to the thoughts of the Bears, of this new retail deal going forward. Ashley is hated among the support, but as has been pointed out business is business and now with delicious irony, Ashley will now make money for us. He has virtually the market sewn up in sports outlets and access to a vast customer base.

 

If he's completely out of Rangers and it's good sales for us, through SD it's a win win, could you live with that? I could just about as long as rhe club makes a packet on the back of him for a change.