According to a section of the club’s Annual Report, Rangers could still owe millions of pounds as their retail legal battles continue.

In May, the Gers announced up-and-coming British brand, Castore, as their new kit and retail partners on a long-term contract.

The deal was hailed as a new era for the club, which appeared to be leaving the Sports Direct and Hummel problems in the past.

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However, it seems that Rangers aren’t out of the woods just yet.

As highlighted by football finances expert, Kieran Maguire, a section of the club’s Annual Report labelled ‘contingent liabilities and provisions’, addresses their legal battles with SDI Retail Services Limited.

‘The company is engaged in ongoing legal proceedings relating to its retail arrangements,’ reads the beginning of the section. ‘Judgment has been granted against the Company in respect of certain breaches of contract but, at this stage, the extent of the Company’s liability other than with regard to legal fees has not been decided by the Court.’

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Rangers are still involved in legal battles relating to their retail arrangements. (Photo by Craig Foy/SNS Group via Getty Images)

At this stage, while ‘negotiations are ongoing’, it’s clear that Rangers are unwilling to give away too many details regarding the case.

 

An amount of £3,150,000 is provided as ‘the directors’ best estimate of the Club’s liabilities in respect of these disputes.’

Crucially, though, it’s later conceded that ‘the amount provided may be less or more than the sums at which matters are ultimately resolved. ‘

It will no doubt come as a disappointment to Rangers fans that the club is still suffering for mistakes made around previous kit deals.

£3 million is obviously a considerable sum of money and there’s clearly potential for the final figure to be even higher.

However, many supporters are appreciative of the remarkable commitment being shown by the board of directors to steer the club through the current challenging climate and with revenue figures up, there are some positives to come out of this report too.

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