In an exclusive interview with Rangers fan blog Four Lads Had a Dream, Castore co-founder Tom Beahon has provided more details on the financial aspects of the new kit deal.
The up and coming Liverpool-based brand were announced as the Gers’ kit and retail partners on Sunday with a long-term deal kicking in ahead of the 2020/21 season.
🆕 #RangersFC is delighted to announce Castore, the fastest growing premium British sportswear brand, as its official kit and retail partner from the 2020-21 football season.#BetterNeverStops | #ANewEra
— Rangers Football Club (@RangersFC) May 17, 2020
Relatively little was known about the premium sportswear brand prior to this week but more details have gradually emerged with co-founder Tom speaking to club media, national press, radio and fan media.
Castore have spoken about their vision for the partnership, addressed merchandise pricing, outlined a plan to introduce ‘pro’ kit options [talkSPORT] and discussed an ambition to increase the number of Rangers stores across the UK.
Now, speaking to Rangers fan blog, Four Lads Had a Dream, Beahon has provided more information on the financial structuring of the deal.
“In all of these deals, there are tiers,” he said, when asked if the deal is set to be worth £25 million over five years. “There is an element that is paid to the club up front, that is paid right on day one, which in this deal is about £3million. That amount has been paid already to the football club.”
“Then, beyond that, we structure effectively profit shelves and revenue share where the club benefits materially from every single product that we sell…the objective is that the more kit that Rangers sell, the more product that Rangers sell, the more that Rangers earn back from that.
“In answer to the question ‘is £5million-a-year achievable?’ The short answer to that is, absolutely yes. It is very achievable.”
Tom goes on to state that his aim is to see the club earning anywhere from £7m to £9m annually in the years ahead.
It’s suggested that it will take a concerted effort from all involved to reach those numbers but with any future success on the pitch likely to further mobilise a global fanbase, he believes it’s possible.
Tom Beahon exclusive interview – Castore, the truth of the £25m deal, Kit and megastore news https://t.co/ARKvxixtza
— Four Lads Had a Dream (@4ladshadadream) May 20, 2020
The interview commitments keep coming for Tom Beahon but once again he’s happy to speak openly and at length about pretty much all aspects of his company’s new deal with Rangers.
It will be encouraging for fans, especially in these uncertain financial times, that £3 million has already been paid to the club up front.
The tiered structure to payments should certainly incentivise the club and the supporters, as finally, after years of legal battles and unsuccessful partnerships, it looks as though Rangers have entered into a deal which can yield benefits in both the short and the long term.
It’s a lengthy interview in its entirety and Beahon provides plenty of other information in response to probing questions, dropping hints about next year’s third kit and providing further details on the plans to renovate the Ibrox Megastore.