Rangers insist that their fans have no cause for alarm over badges and other trademarks being registered with Sports Direct — as they will return to the club when a £5million loan is repaid. The Ibrox board last week launched a probe into claims Mike Ashley’s firm had taken ownership of intellectual property, including the club’s famous crests. However, they are satisfied the position stems solely from the security attached to the loan from Sports Direct, accepted by the former regime in January. ‘It has been widely reported that the trademarks, the iconic symbols of our club, are now in the possession of Sports Direct,’ said a club statement. ‘Although the trademarks are registered in Sports Direct’s name, the position is not as alarming as it may first appear. Newcastle owner Mike Ashley is a divisive figure north and south of the border . ‘Rangers remain the rightful and legal owners of their trademarks and interim chairman Paul Murray has clarified this position with Sports Direct. Both parties will come together within the next two weeks for talks. ‘Confusion over ownership arose last week when it was noticed on a Government Intellectual Property site that they appeared to be the possessions of Sports Direct but this was as a consequence of the loan facility entered into by the previous board. In return for the loan, Sports Direct took security over all Rangers assets — but not Ibrox — including intellectual property owned by the club. ‘In England, it is possible to secure such rights by a fixed charge, but in Scotland, the equivalent of an English fixed charge can only be granted over heritable property — land and buildings. The Rangers board have reassured fans that the club still owns trademarks and the badge . ‘Accordingly, a practice has developed of lenders taking absolute transfers subject to a back-letter setting out that the transfer is in security and the property will be returned when the facility has been repaid. This is a common device adopted by most of the UK banks and lenders. ‘Rangers supporters can be reassured that Sports Direct fully accept that all of the IP rights registered in their name will be returned to the club when the loan facility of £5million is repaid.’ Kenny Miller wears the club's famous badge on his shirt as he gestures during an outing for Rangers .
The Ibrox board last week launched a probe into claims Mike Ashley’s firm had taken ownership of intellectual property .
They are satisfied the position stems solely from the security attached to the loan from Sports Direct .
‘Although the trademarks are registered in Sports Direct’s name, the position is not as alarming as it may first appear,' a statement said .