Castore bid for global expansion could see Rangers rake in the financial rewards
Castore has never been that big-name brand that gets Rangers fans excited on a similar level to that Nike or Adidas potentially would, but that could be about to change.
The Bears’ kit manufacturers are plotting for global expansion to challenge those two big names, with Sky News reporting that the brand is pushing to fundraise £165.4million.
Serious capital injection is being sought after by the business alongside the likes of Sir Andy Murray, in a move that could potentially benefit Rangers.
With £30million profits likely this year, the company is looking to be valued at £1billion-plus if they sold shares as part of their new capital raise.
Rangers’ current deal with Castore runs until June 2024 and has been worth £20million, including bonuses for sporting performance over the five-year contract [Total Sport].
Should Castore progress as expected with this fundraising bid which could lead to that huge valuation, surely James Bisgrove and his team could push for an even stronger financial package.
New Deal.
It is all about progression with deals such as these, and given that the latest package included performance-based bonuses, the current signs are not good.
With the ViaPlay Cup final lost and the Scottish Premiership all but gone already, all eyes are on the Scottish Cup with the semi-finals to come.
Should Celtic win that as well and leave Rangers with nothing, they won’t have a leg to stand on in negotiations as they look for more money.
One thing that may work in their favour though is the return to the Champions League, which helped put Castore back on that global map – with Premier League sides Newcastle and Wolves not yet at that level themselves.
Rangers were flying the Castore flag and could do the same again next season if they qualify, with one more season left to build up some leverage to push for more than the current £20million deal.
All eyes will be on this one ahead of 2024.
In other Rangers news, Ally McCoist has shared his “penny-pinching” verdict on a player reportedly agreeing to quit Ibrox