RANGERS PAID £8M TO CANCEL ASHLEY'S SHOP DEAL

Accounts show billionaire picked up more cash to settle merch row. Club handed £14m to lenders including current vice-chairman. But it is finally back in black after Europa run and player sale

- ANDY NEWPORT

RANGERS have revealed they were forced to fork out £8.25million just to get Sports tycoon Mike Ashley off their backs.

Direct The extent of the club's costly court battle with the Sports Direct tycoon was laid bare after their accounts were unveiled.

Ex-Ibrox investor Ashley, ousted when Dave King and the current board took control in 2015, sued the club for loss of earnings after claiming the Gers had wrongly terminated a shop contract with his sportswear firm.

A settlement was struck in May but only now have the club confirmed the amount they were forced to pay.

Despite the payout, the accounts showed Rangers were finally back in the black last year as the sale of Nathan Patterson and the Europa League run to Seville helped generate a £5.9million profit.

The annual figures up to June 30 also revealed the Gers had to shell out £14.3million to repay loans put in by the club's boardroom backers.