As Celtic are about to bank a record fee for Matt O’Riley Rangers look set to pay out a vast sum of cash as part of the out-of-court settlement deal with Elite Sports.
The Ibrox club were being sued for £9.5m by Elite as they believe they have lost sales due to Rangers agreeing a new kit deal with Castore which broke the terms of an agreement with Sports Direct-owned company.
Elite took Rangers to court and it seems that both parties had come to a mutual agreement. However, it wasn’t known how much that agreement amounted to, until now.
Phil Mac shares next big Rangers payout
Phil Mac Giolla Bhain always has his finger on the pulse when it comes to that club’s financial matters.
And in his latest blog, the popular Irishman discloses what he’s heard about the massive payout Rangers now owe Elite.
Phil said, “Now that the little legal misunderstanding has been cleared up, Sevco has accepted what it owes Elite’s administrators.
”The only details that are missing from the public realm are the details and the payment schedule.
”I’m going for a ballpark figure of around £6.5m and somewhere around the 30-90 days mark for the first tranche.”
If it is that figure then that means Rangers are haemorrhaging more cash as their fans cry about Celtic getting £30m for Matt O’Riley.
The new season has brought some superb laughs from Rangers to the Celtic fans already and this is just another example of how we are keeping them in pain for now and the foreseeable future.
Hahahahahahahahahahahaha
Only leaving them in pain if we reinvest the cash in more quality,but I doubt it! We like to be just ahead of them and run the risk of losing the league.