Dave King has confirmed that Rangers have given notice to Sports Direct to end the controversial retail deals in place with Mike Ashley’s firm.
And the Gers chairman has vowed that neither he nor the club will be bullied by the billionaire businessman as the lengthy feud has escalated once again in recent months.
The retail contracts have been at the centre of a long-running battle between Ashley and the Light Blues board as supporters continue to boycott Sports Direct and official Gers merchandise outlets in protest at the businessman’s Ibrox influence.
Ashley this week dropped a high-profile legal case against Rangers and came under fire from Mr Justice Peter Smith for launching the ‘ridiculous’ action.
King and his fellow investors combined to pay off the £5million loan that Ashley agreed with the former Ibrox regime last year as security over Murray Park, Edmiston House and the Gers’ registered trademarks was returned to the club.
Chairman King has provided an update to supporters ahead of the title run-in as the Gers look to clinch the Championship crown this term.
He told rangers.co.uk: “A further unanticipated investment was made to pay off the Sports Direct loan and to recover all security held by Sports Direct.
“That has now been completed and the Club has formally given notice to end the relationship with Sports Direct while still reserving our right to proceed with challenges to the existing suite of contracts and side agreements in a court of law.
“For the first time a Board of this Club has stood up to the threats of Sports Direct and has achieved resounding success in court proceedings including the substantial recovery of legal costs.
“Sports Direct’s motives were severely exposed when a High Court judge ruled that Sports Direct abused court processes in its attempt to bully the Club and me.
“We will continue to put Rangers first and ensure that we get redress and compensation for the poor commercial and business practices that the Club has been forced to endure.”
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