See all this sports direct carry on it’s giving me a headache so thought I’d try and break it down for yees.

Kit supply and licensing agreement: this is with Castore AND SDI, Castore have the rights to manufacture and supply kit that features the Rangers badges etc.

SDI have exclusivity on distribution, the reason for that exclusivity is they have a matching right and Rangers have a contractual obligation to notify SDI within 10 days of receiving an offer to allow them to match it, if they did then Rangers must go into an agreement

With SDI and SDI have the right to block negotiations with 3rd parties if they match.

The bad news is that this right can be excersised multiple times (the key piece here is that when the agreement is coming to an end, in the last six months SDI can exercise this right)

so in effect the only clean slate we have is there isn’t litigation costs with SDI...for now. See Elite and Hummel.

Where are we at now?

Castore - have the right to manufacture and supply and of course, like any sponsorship deal they have to pay Rangers the privilege to do so.

SDI, by matching the deal now have the rights to sell and distribute in their stores and online for the duration of the new agreement.

What does this mean?

It means that both Rangers and Castore will recieve around 7-8% of sales SDI make (this is common in any kit licensing

Agreement)

And when this agreement is about to lapse...we go round again.

I’m not sure how January’s ruling will effect the next round mind but I’ve asked a sports legal firm for clarification on this.