By Dan Plumley

6th Oct, 2022 | 4:10pm

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...

Dan Plumley has insisted that having top lawyers can save clubs millions as Rangers dodged a payout to former player Carlos Pena over the last month in the Court of Arbitration for Sport.

Rangers Review reported that the club avoided a “significant seven-figure sum” after their former player was dismissed due to dishonesty over alcohol abuse.

Plumley admitted that the cost of hiring lawyers is nothing compared to potential costs when things go wrong behind the scenes, and that is a risk that clubs have to balance.

“You can see why clubs pay the big bucks to have the best quality lawyers when they need them or they have them already internally embedded to deal with contracts and a whole manner of things,” he exclusively told Ibrox News.

“You can see there in the headline, they’ve dodged a seven-figure payout, so it can save you millions, that’s the benefit of having a really good legal team, and the cost of having them is still cheaper in relative terms of the cost of it going wrong and that’s the risk you’re always balancing again.

“You have an example there where it’s saved over a million pounds so that’s the reason for having them, and we know the crossover nowadays between football finance and the legal side has come to the fore in recent years so there is more work in that space.

“It makes sense for the clubs to hire these people and lawyers as they can save millions.”

With the Pena situation alongside the fine picked up for Merchandising developments, lawyers at Ibrox have endured a busy few weeks and months.

The Bears have come out of the other side only paying out just above £200,000, so that will be deemed as a success thanks to their work.

Now, it is time to move forward without these hanging over the head of the club, who will no doubt be delighted to leave these developments in the past.

In other Rangers news, this finance expert admits the Bears have numerous options on the table to generate more investment when needed