Rangers have finalised a sensational new kit and retail deal with sportswear brand Castore worth £20million.

The club-record agreement will replace the current Hummel and Elite deal that is set to be terminated a year early at the end of the current campaign.

Ibrox sources have told Football Insider that a five-year package has been secured that will see the club earn £4m per season.

It comes after Rangers issued a commercial update today that confirmed the announcement of a new kit and retail partner to replace Hummel was imminent.

Football Insider revealed on Saturday that Rangers had reached agreement on a lucrative deal that would eclipse the current Hummel and Elite package, which is worth around £10m.

The deal with Liverpool-based retailers Castore, who are suppliers of Andy Murray, will be the biggest in the Glasgow giants’ history.

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It brings them closer in line with bitter rivals Celtic, who announced in March they had agreed a Scottish-record five-year kit deal starting on 1 July with German sportswear giant adidas.

It eclipses the £25m deal the Hoops have with New Balance that ran from 2015 until the end of this season.

Like Celtic, Rangers are changing suppliers although they have taken the drastic measure of getting out of the existing three-year agreement that began in 2018.

As part of the deal, Hummel were also named sponsors of the training ground.

But Rangers revealed in February the final year of the contract would not be fulfilled amid a series of legal disputes.

The new Gers kit deals comes as the club appeared to confirm that their long-running dispute with Sports Direct was over.

The Ibrox giants have been mired in a series of legal rows with Sports Direct owner Mike Ashley for seven years over claims to the club’s merchandising rights.

In other Rangers news, a big whisteblower dossier update can be REVEALED as Celtic put the squeeze on SPFL.