Finance expert: Rangers could suffer major blow due to sponsor Sportemon Go chaos
We’re delighted to welcome football finance expert Dr Daniel Plumley as our exclusive columnist. Each week he’ll be giving his views on the biggest talking points at Rangers...
Rangers could possibly lose out completely amid the recent crisis going on with one of their sponsors Sportemon Go.
That’s according to Dr Dan Plumley who claims that everyone is currently in the dark over this recent fallout of the NFT company sponsoring the 55-time champions.
Sportemon Go entered an agreement with Rangers in October 2021 and have appeared on the back of their jerseys ever since.
However, the Athletic reported in early May their social media accounts disappeared and once they returned, a statement was issued to convey that they have ceased operations.
As they signed a two-year deal at the club, they became a top-tier sponsor and nobody from the hierarchy has come out and spoken a word about it.
Trying to make sense of the impact on Rangers, the Sheffield Hallam University expert told Ibrox News,
“Rangers have not said anything themselves so we’re currently in the dark about this situation.
“Usually, there should be a clause in the contract that stipulates if either party falls into financial difficulty.
“Then they can see what the percentages are and effect scenario occurs so on. I’m no lawyer, but these things are stretching pages and pages and I’m not sure if these things are part of the contracts.
“There could be a situation where Rangers could retrieve something from it and there also could be a situation where they lose out completely.
“With NFTs still in their infancy, more and more clubs will want to jump on the bandwagon, but with stories like these coming to light, they will be more hesitant to jump on board with other partners.“
In light of this development, Heart and Hand, the club’s media partners, tweeted that the NFT companies are full of con men.
In the newly-launched orange kit, Rangers are continuing to use the branding of the now-defunct company. [The National]
In other Rangers news, the club are ‘not convinced’ by a key first-team player and an early termination of his contract is extremely likely.