Is Mr Blair Hot to Trot?

The Financial Times wrote:

Glasgow’s Rangers Football Club has become embroiled in a High Court legal battle with Sports Direct and its billionaire owner Mike Ashley with a trial scheduled for later this month.

The dispute centres around a deal through which SDI Retail Services, a company owned by Sports Direct, sells replica Rangers shirts and other merchandise.

Mr Justice Phillips was told this week that the agreement between SDI Retail Services and Rangers was due to expire shortly and Rangers wants to launch new strips supplied by manufacturer Hummel.

However SDI wants to stop Rangers entering into a new deal with the third party and claims under a clause in its existing contract it ought to be able to match any new offer.

The judge on Wednesday agreed to continue an existing court injunction preventing Rangers from signing another deal until a trial is held. Mr Justice Phillips also said that there would be a trial later this month which will examine the existing contract and the meaning of the relevant legal clause.

The outcome of the court battle is important for Rangers, because a key time for the sale of new replica shirts is just before the start of the new football season, which starts in early August.”

 

 

My readers who accessed my password protected piece yesterday will confirm that I anticipated this course of action. Of course it helps if you have a source who attended the hearing. Justice Phillips wanted to reach a preliminary determination on the construction of Clause Five in the SDRI/ TRFCL agreement which deals with ‘Matching Rights.

SDRI’s counsel, to paraphrase James Blair, were ‘Hot to trot.’
However as Mr Blair had trotted off to the Orkney archipelago, his counsel Mr. McCormick QC demurred to await his instructions.
Allow me to repeat this. King’s consgliere chose to take a vacation in preference to a hearing that could have gone a long way to resolving this dispute and providing his client TRFCL and the third party, believed to be JD Sports, with a level of comfort to proceed with their plans. Is the third party prepared to swallow the expense of fitting out a new retail unit in the environs of Glasgow?
Is there no end to the endemic stupidity at Ibrox?
Prior to the hearing which when confirmed, will commence on the 30th or 31st of July, Mr. Blair’s vacation will be cut short so as to present his final submissions to the court by 18th July. SDRI will respond on 24th July. Skeletal arguments by 1 pm on the 27th July.
Mr Sa’ad Hossain QC argued that damages, capped at £1m in the SDRI/TRFCL agreement, were insufficient to satisfy his client.
There can be no doubt whatsoever that Dave King and Paul Murray, advised by a conveyancing solicitor, signed an agreement which they have blatantly breached.
One can but hope that Mr Blair enjoyed his summer break on an archipelago blessed with beautiful beaches and equestrian facilities. Others less kind might enquire why he did not ‘saddle up’ at The Commercial Court.
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5 thoughts on “Is Mr Blair Hot to Trot?”

  1. No Blair, no King to stand up Rangers argument?
    Jack, Jackson and their ilk should have a look back at their articles claiming King’s victory over Ashley.
    Not looking that way now, is it boys?
    No share issue, no merchandising income and payroll through the roof.
    The forecast gap in finances as laid out by the auditors in the last accounts has grown legs.
    King is now the banker of last resort but as he told TOP, he has issues with moving cash from SA.
    Of all the mistakes made by King and his concert party this merchandising feck up could top the lot.
    Court of Session, Take Over Panel, High Court……King has learned nothing from his battle with SARS.
    If Stevie G doesn’t deliver Europa Group Stage football there will be consequences.

    1. Joe
      Your point is well made that if GASL has trouble moving monies out of SA to accommodate the share offer, any assurance with regard to him funding any deficit has to be taken with more than a pinch of salt. Whilst auditors theoretically are independent of the client and are beholden to the principles of their trade association, in practice they want paid and to be retained so have a vested interest, in the real world, to keep the client sweet. I don’t think SFA have such a relationship and should be as suspicious as TOP to ensure that any malfeasance on the part of one individual, in this case GASL, doesn’t effectively scupper their sport mid season. His underwriting of The Rangers outgoings should therefore equally command that monies should be lodged where it might be needed. that is in the UK and not abroad.

  2. Rumour has it that Mr Blair is up in the Orkneys to arrange a loan of the latest bestest footballer to play for Orkney boys club with a signing on fee of just over 6.3 million pounds plus the expenses of flying the boy home every night.

  3. ‘One can but hope that Mr Blair enjoyed his summer break
    on an archipelago blessed with beautiful beaches…’
    Orkney is indeed beautiful but the water is COLD,
    even in July.

  4. Curiouser and curiouser!!
    Blair buying an alternative site for the Ibrox superstore now makes simple sense.
    News this morning in the SMSM of a £3Million bid for Millwall player, if indeed true it is the SMSM after all, however what searches, investigations etc into Credit Worthiness do these selling clubs carry out? Seems the Football Industry is as lax with payment terms/ credit amounts capability as the SFA are with their fit and proper criteria?

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