Keith Jackson has now dropped some big financial news involving Glasgow Rangers as it appears their Old Firm woes are not yet finished.
The Lowdown: Sydney Super Cup exit
The Ibrox faithful confirmed their withdrawal from the Sydney Super Cup earlier this week, claiming that the organisers of the tournament were ‘unwilling to fulfil their commitments’.
There was a lot of backlash against their participation in the first place, given the links to Celtic’s Australian manager Ange Postecoglou, as the country was set to host an Old Firm friendly.
Some supporters of the Teddy Bears were even seen throwing tennis balls onto the pitch in March’s trip to Dundee in further protest.
The Latest: Potential fine
Writing in his latest piece for The Daily Record, Scottish football journalist Jackson has revealed that the Light Blues could now be hit with a £5m bill for breach of contract after pulling out of the tournament.
They have blamed event giants TEG Live for the dispute, and it is understood that this centres around a perceived reluctance to package the friendly as an ‘Old Firm’ game.
However, this has been angrily denied by Australian sources, who claim that commercial director James Bisgrove gave his personal approval to an initial launch at the start of March, where the ‘Old Firm’ slogan was not used.
The Verdict: Another Old Firm blow…
If the Gers were to fined as much as £5m, added to the money that they would have already lost by exiting the Cup, it would be a big blow ahead of the new season.
They are now far from guaranteed to win the title over rivals Celtic, and could still exit the UEFA Europa League, which would leave them with few positives in the financial department due to the absence of Champions League football next season.
Can Rangers win the Europa League?
There are also a few first-team players out of contract in the summer, which they may need the money for in order to renew their deals, let alone adding new signings.
Exiting the tournament was perhaps still the right thing to do given the backlash, but it now appears Sunday’s defeat isn’t the only hit the Gers will take this weekend.
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