RANGERS received just 50p for every £10 spent by supporters on official merchandise over the last seven months.
That is the claim from the Rangers Supporters Trust after analysis of the latest set of Light Blues accounts that were released earlier this week.
Figures for Rangers International Football Club plc showed a £7.5million loss for the year end to June 2015 but it is those relating to the deal with Sports Direct that have once again grabbed the attention of fans.
The Light Blue legions are continuing to boycott the Mike Ashley owned firm and official Rangers merchandise over the controversial merchandise contracts with Sports Direct.
The RST reckon that, going by the 12- month figures, Rangers received just 7p in the pound from their retail revenue streams.
King and the Ibrox board are eager to renegotiate the contracts with Sports Direct and fans will step up the pressure on Ashley when the Sons of Struth stage a protest at the Megastore this afternoon.
A Trust statement read: “In the year ended 27th April 2015, Rangers fans spent £4.262m on merchandising. Rangers’ accounts for the year ended 30th June 2015 show only £301k profit attributable to the club.
“This means that for every £10 spent by fans, the club benefited by only 71p. If we were to use only the seven month figures shown in the accounts then the club benefited by only 50p per £10 of revenue.
“The figures flag up serious issues with the Sports Direct stranglehold over profit distribution from Rangers Retail.
“Any dividend payable to the club from merchandise profits is entirely at the discretion of Sports Direct. They have failed to pay out any significant dividend to Rangers since the inception of the deal.
“The Sports Direct arrangement remains terrible for Rangers and fans should be aware that any official merchandise purchase, from any retail outlet, is simply strengthening the ability of Mike Ashley to hold our club to ransom.
“We would urge fans not to buy any official merchandise until there is a comprehensive revision of the existing deal."
The Herald has contacted Sports Direct for a comment but no reply was received at the time of going to press.
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