Rangers settle multi-million dispute over Castore kit deal

In March 2020, Rangers agreed a new deal with Castore, said to be worth £20m over the next five seasons.

The Manchester-based brand, which counts tennis star Andy Murray among its investors, was valued at being worth £750m in September 2022.

Lawyers for Elite won a bid to have sales figures on Castore products disclosed to them.

They told the Court of Session on an earlier occasion that this new deal caused Elite to sustain losses, which it needed to be compensated for.

However, before the case was due to begin, both sides met for further negotiations.

Lord Braid allowed for talks to continue until 13:30.

When they returned to court, they said there was no need for the case to go ahead.

Elite’s lawyer, David Thomson KC, told the court that a further hearing may have to take place next week although there was no guarantee that it would happen.

He added: “It is hoped that it won’t be required and if it is required it will be a formality.”

Lord Braid formally discharged the hearing.