Rangers face multi-million pound financial hit amid recent UK government plans
Rangers could be in line for a seven-figure financial blow as they may be forced to remove sponsorship logos from their jerseys.
According to the Scottish Daily Mail (pg 85, 23 Sep 2021), the UK government is planning to outlaw gambling firms which could have a tremendous impact on Gers’ sponsorship deals.
They are sponsored by betting companies and under the new rules will not be allowed to display their logos, which would have tremendous financial ramifications for them.
Kindred Group signed a multi-year extension with Rangers last season and that deal is now in tremendous jeopardy.
32Red and Unibet, two betting companies are a part of that group and could be outlawed if the new rules come into place.
Westminster has the power to make these decisions and according to the Mail report, they are almost certain to include proposals in a white paper set to be published this winter.
Rangers, who are already facing financial ramifications after not qualifying for the Champions League will see this as a further blow to their hopes of growing in stature.
Thus far, Steven Gerrard has done a phenomenal job but will need cash injections to remain sustainable and if more sponsors are being pulled out, it’s going to make it that much harder.
Hopefully, some sort of middle ground can be found here as the club is in no position to manage without these revenue streams.
In other Rangers news, BT Sport may cover Gers game from Parkhead after recent controversy