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Exclusive: Football finance expert delivers verdict on effects of Rangers deal with Castore
Ibrox News recently conducted an exclusive interview with Football Finance expert Kieran Maguire, getting his views on the biggest talking points at Rangers this summer. Make sure to listen to the Price of Football podcast here.
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Football finance expert Kieran Maguire has claimed that Rangers’ kit deal with Castore has been a key factor in allowing the club to maintain healthy cash flow this summer.
Speaking exclusively to Ibrox News, the University of Liverpool lecturer suggested that seed capital from investors in the sportswear brand may have been handed directly to the Gers, and will have been a useful asset during the uncertainty of the ongoing Coronavirus pandemic.
The Glaswegian giants signed a multi-year partnership with the Liverpudlian company back in May, and Maguire also believes that the haste with which the agreement was struck was beneficial to the club.
Speaking to Ibrox News, he said: “The earlier the deal was signed, the more advantageous it was for Rangers because it allows them to launch the kit with Castore.
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“They’ve also had a pent up audience. People who have said they won’t buy any kit while Mike Ashley was still involved, as soon as that deal is parked, they can move on. From that point of view, as soon as the Castore deal was signed and sealed, and they were allowed to launch the kit, it meant that fans could go straight in and start buying it with clear consciences.
“In terms of kit deals, it does very much vary from club to club. What the manufacturers tend to do is that they pay a fixed sum of money, and then the club itself will get a percentage. South of the border, clubs tend to be around 7.5%.
“Castore have received seed capital from investors, I expect that money has effectively come into Castore and then gone straight onto Rangers. It will give the club, from a cash flow perspective, an opportunity to cover the wage bill and other significant costs over the summer when there was relatively little money coming in.”
Castore’s partnership already with Rangers looks as if it could be hugely successful for both parties.
As of August 8th, the club confirmed that they had sold 100,000 replica shirts to supporters.
In other Rangers news, Ibrox Exclusive: Alex Bruce hails Rangers after ‘perfect’ start to season.
Don’t forget to check out The Price of Football podcast here.