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http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12147419.html

 

The Board of Rangers is pleased to announce that Rangers Football Club Limited has entered into a partnership marketing agreement with SportsDirect.com Retail Limited ("Sports Direct") in which Sports Direct has given up its naming rights to the Ibrox Stadium. The agreement consolidates existing marketing arrangements between the parties and results in a more normalised retail joint venture marketing arrangement in which Sports Direct will continue to have certain advertising rights.

 

Commenting on the arrangement David Somers, Executive Chairman, said "This agreement has been concluded to demonstrate the importance both parties place on our relationship. The Rangers Board welcomes this visible demonstration of the Sports Direct support and long term commitment to Rangers."

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Difficult to comment as there is no real clarity there.

 

On the face of it giving up the stadium naming rights is a plus but we don't know what is taking it's place or how they define "normalised" wrt to the retail operation. Interesting to see that it wasn't viewed as normal and perhaps will be used in the old AGM 'let's blame what's gone before' trick....which we saw last year and was laughable given this years events.

 

I'd say a 'normal retail relationship' would be one where appropriate levels of cash reached the club.

More especially in times when we need credit facilities for cashflow and have to indirectly 'pay dearly' for them.

 

I'd also say the option/terms to buy-out the TRFC 51% in the retail joint venture were heavily 'loaded' in favour of Sports Direct.

 

Not fogetting the SD 'control on financial matters' with only 49% of the shareholding, normal ?

Edited by buster.
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Difficult to comment as there is no real clarity there.

 

On the face of it giving up the stadium naming rights is a plus but we don't know what is taking it's place or how they define "normalised" wrt to the retail operation. Interesting to see that it wasn't viewed as normal and perhaps will be used in the old AGM 'let's blame what's gone before' trick....which we saw last year and was laughable given this years events.

 

I'd say a 'normal retail relationship' would be one where appropriate levels of cash reached the club.

More especially in times when we need credit facilities for cashflow and have to indirectly 'pay dearly' for them.

 

I'd also say the option/terms to buy-out the TRFC 51% in the retail joint venture were heavily 'loaded' in favour of Sports Direct.

 

Yeah, I'm just saying as much on social media regarding the release of funds to the club. This is supporter money being denied to the club.

 

Would fans buy merch if they knew the money was not going to reach RFC?

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Yeah, I'm just saying as much on social media regarding the release of funds to the club. This is supporter money being denied to the club.

 

Would fans buy merch if they knew the money was not going to reach RFC?

 

 

It'll be interesting to see what they say about that in the accounts.

We already know the main numbers involved (cash not released) up until the end of June this year.

 

A normal club will probably have more than 51% of the retail venture.

A normal joint venture wouldn't have 49% (SD) controlling the financial matters of the 51% (TRFC).

A normal club woudn't be so happy about receiving no liquid cash in times of cashflow crisis (in over 2 years up until the end of June 2014)

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The Rangers Board welcomes this visible demonstration of the Sports Direct support and long term commitment to Rangers."

 

Without looking to offend anyone, but a sports retailer which markets intself to the underclass and unskilled working class still has dominance over our institution.

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