Newcastle United’s Mike Ashley Secures Naming Rights For Ibrox
Rangers Chief Executive, Charles Green, told STV;
“We’ve now decided that Sports Direct will be our partner (re stadium naming rights). We had Sports Direct representatives up for a fans’ forum a few weeks ago. We also had Newcastle United’s Derek Llambias sharing the experience of how that ‘helped’ his club”.
As well as the naming rights, Ashley also has a shareholding in Rangers and has previously agreed to be the Glasgow club’s merchandising partner.
To sum up the challenges facing Scottish football and Rangers in particular, it has also been announced that in the seven months to 31 December 2012, the Scottish club lost £7m. This was based on operating expenses of £16.6m compared to total revenue of just £9.5m.
To put in perspective, next season the bottom club in the English Premier League is expected to pocket around £70m just from broadcasting rights.
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