SHOCKING NEWS:Philippe Clement confirmed the suspension of two key players few minutes ago Rangers end decade of retail warfare by settling ‘multi-million pound’ Elite dispute
Tue 20 August 2024 13:50
Cameron Willis
As Rangers settle their ‘multi-million pound’ action with Elite, you might not expect the fact the club are handing over millions to be met with celebration.
But after ten long years of tumultuous dealings in the club’s retail department, if there is anything to smile about this afternoon, then you’ll find it in the chaos of the last ten years.
Sorry, We Need To Talk About Fabrizio Romano
Rangers’ retail operations have been the subject of near-constant boardroom battles ever since the influence of Sports Direct and Mike Ashley worked its way into the club’s structure.
And whilst the situation with Elite and Hummel is an example of glaring boardroom incompetence at Ibrox, the settlement promises a new era for Rangers, free from the shackles of retail uncertainty.
READ MORE: Rangers face Hampden Europa League reality despite Ibrox positive
A general view outside the stadium ahead of the UEFA Champions League group A match between Rangers FC and Liverpool FC at Ibrox Stadium on October…Rangers settle Elite case
As reported by the likes of STV, Rangers have now officially settled their ‘multi-million pound’ court case with Elite.
Whilst the official settlement figure is unknown, TBR’s football finance expert Adam Williams has previously speculated that it will be in the seven-figure region.
It comes after Elite – who’ve been placed into administration – launched a £9.5m class action against Rangers for a loss of earnings.
MORE RANGERS STORIES
Premiership rivals consider swoop for £4m striker Rangers wanted to bring to Ibrox – report
Premiership rivals consider swoop for £4m striker Rangers wanted to bring to Ibrox – report
Rangers News
2 hours ago
‘Brave as a lion’ beast on Rangers radar eyed for Bosman move, ex-Man Utd boss loved ‘top player’
‘Brave as a lion’ beast on Rangers radar eyed for Bosman move, ex-Man Utd boss loved ‘top player’
Rangers News
3 hours ago
Cantwell goes back on his word as one year flashback shows Rangers betrayal
Cantwell goes back on his word as one year flashback shows Rangers betrayal
Rangers News
4 hours ago
Rangers ‘open to five sales’ as they look to finance late touches to summer rebuild – report
Rangers ‘open to five sales’ as they look to finance late touches to summer rebuild – report
Rangers News
7 hours ago
Gilmour could do Rangers a huge favour amid £10m transfer stand-off
Gilmour could do Rangers a huge favour amid £10m transfer stand-off
Rangers News
7 hours ago
Rangers had signed a kit deal with Elite amid rumbling boardroom warfare with Mike Ashley and Sports Direct, a situation pertaining to legacy contracts.
The previous Rangers regime had famously signed a contract with Sports Direct that would see the club receive only 7p to every £1 generated through merchandising.
Since Dave King and the Three Bears took over in 2015, the club’s retail department has been the subject of intense courtroom action.
When Rangers signed the deal with Elite in 2018, it upset Mike Ashley, with a court ruling that Rangers failed to offer Sports Direct first option on the contract, as per the legacy contract’s agreement.
Rangers eventually settled years of boardroom warfare with with Sports Direct in 2022.
The club’s annual reports showed that Rangers coughed up around £6m to end the dispute.
But as the battle with Mike Ashley was over, the issue with Elite and Hummel was only just beginning.
After the ruling on the Sports Direct first option, Rangers were banned from using any Elite/Hummel branded merchandise.
Rangers then went on to sign a new deal with Castore heading into the summer of 2020, despite having signed a £10m three year deal with Elite in 2018.
Elite then brought forward this suit in order to recoup £9.5m in lost earnings but, with the eight-day court case about to begin, both parties struck a settlement agreement in ‘injury-time’ last week.
This was then delayed after Elite’s legal team claimed that Rangers had not instructed their lawyers about the draft settlement proposal, and that the draft included previously non-agreed stipulations.
Now, an agreement has been officially reached with David Thomson KC, who was representing Elite in the case, confirming this to the presiding judge Lord Braid.
“Since the case was last before your lordship, I am pleased to say that parties have now resolved their outstanding differences in relation to the written settlement agreement,” said Thomson.
“The terms of the final written agreement were finalised last night.
“The contract has been executed by Rangers and it will be executed on behalf of the pursuer today.
“The document will be signed today – speaking for myself its not a moment too soon before we all ran out of footballing puns to describe where we have reached in the case.
“Perhaps it is time for one more – they think it is all over – it is now.”
Rangers free from shackles of retail chaos
After a decade of these court cases and stumbling retail contracts, we’ll forgive Rangers fans for being a little apprehensive around the idea that it is indeed over.
The Rangers support has gotten so conditioned to issues surrounding the club’s retail department that they are always apprehensive around any news.
Even Castore have been the subject of routine embarrassment at the hands of Sports Direct.
Rangers fans will find out about the cost of this class action in the club’s accounts but in the meantime this is an important moment in the history of Rangers’ retail operations.
With the club’s outstanding retail court cases now officially settled, Rangers fans can look forward to a semblance of ‘normality’ in this regard.
Millions of pounds have been lost, merchandising opportunities have been missed, and conspiracy theories remain rampant.
But as depressing a thought as it might be, Rangers are still rebuilding in the wake of 2012 and the club’s financial implosion.
This settlement is humongous step forward from the ashes of those dark days.
After a decade of retail warfare, the club is now free of the issues which have long acted as a shackle around Rangers’ finances and the future is certainly a lot brighter.
The Hummel/Elite situation may well have been avoidable, but after the best part of a decade, the Ibrox retail war finally looks to be over.
How the club rebuilds its retail arm going forward will define who was the victor.
Related Topics
Castore
mike ashley
Related Posts
More in News
More in News
About Us
Editorial Policy
Authors
Newsletter
Contact Us
Privacy
Complaints
Privacy Settings
a proud member of
© 2024 GRV Media Ltd.
All Rights Reserved
GRV Media Ltd, 18 Mulberry Avenue, Widnes,
Cheshire, WA8 0WN
Company No. 04155089
Be the first to comment