Rangers have launched legal action against former directors and Sports Direct tycoon Mike Ashley. In a hearing at the Court of Session in Edinburgh, Rangers allege that Charles Green, Brian Stockbridge, Imran Ahmed and Derek Llambias failed to act in the best interests of the company in the club’s business relationship with Ashley’s Sports Direct.
The controversial deal has seen the club advise fans not to buy official merchandise and the naming rights to Ibrox sold off to Sports Direct for £1. Rangers hope to receive just over £4.1m from the action.
It was also revealed that the club want a civil judge to declare the Partnership Marketing Agreement void, which the club entered into in November 2014 which granted Sports Direct large areas of advertising space around Ibrox at, what Rangers allege is, below market value.