Club suing over Sports Direct deal
Rangers in £4m legal action against former directors
Rangers have launched a £4 million legal claim against several former directors and Sports Direct’s major shareholder Mike Ashley.
At a hearing at the Court of Session in Edinburgh, Rangers have alleged that Charles Green, Brian Stockbridge, Imran Ahmed and Derek Llambias failed to act in the best interests of the company with regard to the club’s business relationship with Sports Direct.
The Ibrox club believes the deal negotiated with Sports Direct was below market value and that Mr Ashley (pictured) unfairly benefited from the alleged negligence.
Rangers also wants a civil judge to declare the Partnership Marketing Agreement void which granted Sports Direct large areas of advertising space around Ibrox.
The action emerged when Mr Ashley’s legal team succeeded in getting Rangers to disclose documents.
Rangers hope to recover a total of £4,106,470.83 from the action.
