With rangers' shops owned by sports direct...

[SlideySam]

... am I right in assuming that rangers won't be getting any more merchandising money from those shops?

[Lisbon_Lions_CSC]

MOONBEAM ALERT !!!MOONBEAM ALERT !!!

Wednesday, 8 March 2006

Rangers have agreed a 10-year licence agreement with sports retailer JJB Sports worth a minimum of £48m.

The Glasgow club will receive an initial payment of £18m on 7 June, when they launch their new Umbro home kit.

A guaranteed minimum annual royalty of £3m will be received by Rangers in each year of the licence.

Rangers chairman David Murray said: "It will allow for the reduction of the club's debt and enable further investment to be made in the team."

Murray, who had promised a major announcement once his side were out of the Champions League, said the club's facilities would also benefit.

But there is sure to be job losses, with the present Rangers Shop chain, which employs 200 people, likely to close.

Rangers say they "will now enter into a period of consultation with the affected staff".

The agreement will allow JJB, who already have tie-ins with Wigan Athletic and Everton, to retail all Rangers' branded sports