Long-running Rangers partners Kindred, who are the parent company of 32Red, have been the subject of a €2.6bn (£2.22bn) takeover bid.
State-backed French lottery giants Francaise des Jeux (FDJ) are set to strike an astonishing deal for the Stockholm-listed gaming company.
The move will create one of Europe’s largest gambling companies with Kindred the parent company of leading Rangers shirt sponsor 32Red. The group also owns Unibet.
As reported by the Financial Times, the Kindred shareholders have “unanimously” recommended that the company’s shareholders accept the FDJ’s all-cash offer.
FDJ hold a monopoly on the French lottery services, with international revenues currently sat at 6%. The deal to take over Kindred will boost this to a projected 20% as the group moves into Scandinavian and Western European markets.
Kindred struck “largest sponsor agreement” in Rangers history
As things stand there is no suggestion of how this might, if at all, impact Rangers but the club have a long-running and positive partnership with the Swedish gaming company.
A mixture of 32Red and Unibet have been the title sponsor on the Rangers jerseys since 2014, with Kindred signing the “largest sponsor agreement” in Ibrox history in 2021.
The partnership between Rangers and Kindred has been previously heralded as “one of the longest running in British football” by the Ibrox club.
Now in their 10th year as partners of Rangers Football Club, Kindred have been supporting the club commercially ever since the days of the Scottish Championship.
Bisgrove: ‘We hope 32Red are here for many years to come’
When that last deal with 32Red was struck, Rangers branded it a “multi-year” partnership and it appears we’re now into the third year of it.
As part of the agreement, Kindred would also continue to run Team Talk, a men’s mental health initiative which even featured on the club’s Europa League Final jerseys in 2022.
James Bisgrove, who was then the club’s Commercial and Marketing Director, was the one who struck the deal, with the Englishman now promoted to the role of Ibrox CEO.
Speaking two and a half years ago, it’s clear Bisgrove rates Kindred as a sponsor and we wonder if the FDJ takeover is going change things.
“I am delighted that the club and 32Red have agreed to extend the partnership, which is excellent news for the continued commercial growth of the club and represents the largest sponsorship agreements in our 150-year history,” said Bisgrove.
“32Red have supported our club for many years of our journey back to the pinnacle of Scottish football and our historic 55th league title.
“They’ve been part of our journey both on the pitch and in the community and we are grateful for their fantastic support. They are long-term partners and we hope to continue the successful, winning, relationship for many years to come.”
Kindred – who are one of Europe’s top-five betting providers – are aiming for commercial revenues of £250m for the financial year of 2024.
