Rangers have already secured a £3million down payment after agreeing a club-record kit and retail deal with Castore.
Ex-SPL striker Noel Whelan claimed to Football Insider the landmark agreement is a “huge” step in the right direction for the Light Blues as they look to narrow the gap on Celtic.
🆕 #RangersFC is delighted to announce Castore, the fastest growing premium British sportswear brand, as its official kit and retail partner from the 2020-21 football season.#BetterNeverStops | #ANewEra
— Rangers Football Club (@RangersFC) May 17, 2020
The precise sum will depend upon performance-related triggers being met, including sales of shirts and merchandise.
Intriguingly, Beahon pointed out that the first payment of £3m has already been made on “day one” of the deal.
“That kind of up-front cash for Rangers, it’s huge,” Whelan told Football Insider. “When you consider the lost revenue from no matches since March and the season being terminated early, like all clubs they will need as much as they can get their hands on.
“Rangers have been making real progress under Steven Gerrard but Celtic are still some way ahead and they will need to be really smart in the transfer window this summer to narrow the gap.”
Castore have been working extensively on the new kit designs in preparation for its launch ahead of next season.
The new suppliers will also oversee the much-needed overhaul of the somewhat faded Ibrox megastore.
Castore are committed to spending £250,000 on refurbishing the store selling Rangers merchandise and replica kit after the club finally broke free of the Mike Ashley shackles.
The new kit and retail agreement will replace the current Hummel and Elite deal, which was signed in 2018 and originally set to expire in the summer of 2021.
In other Rangers news, a 29-year-old has set his sights on joining an English club after recent developments at Ibrox.