Rangers avoid £1.6m court battle after striking peace deal with Sydney Super Cup organisers
TEG were seeking £1.6million damages after Rangers pulled out of the competition in Australia last November amid a strong backlash from fans over the link-up with rivals Celtic and the prospect of an Old Firm 'friendly' taking place Down Under during a tour that had been billed as an Ange Postecoglou homecoming by the Parkhead club.
Rangers stated that "the tournament organisers were unwilling to fulfil their commitments", and they were replaced by Everton, but organisers TEG filed a legal action against the Ibrox club via the Australian Federal Court which claimed they had wrongfully terminated the contract.
Rangers were expected to launch a counter claim, however, the dispute has now ended and the threat of litigation removed after peace talks between Rangers and TEG ended with the Glasgow club signing up to a deal that will see them participate in the company's friendly tournaments from 2024 to 2026.
TEG's CEO Geoff Jones said: "We are pleased to have a touring partnership with Rangers Football Club.
"This partnership ends the previous dispute between Rangers and TEG, as both organisations look forward to a collaborative and mutually beneficial commercial relationship in the years ahead.
"This year alone our TEG sport division will tour some of the biggest football clubs across eight countries in both the northern and southern hemispheres. We look forward to continuing to expand our international football touring with Rangers."
New Rangers CEO James Bisgrove welcomed the development, adding: "We're delighted to team up with TEG and form this innovativee commercial partnership that propels our international strategy into a new dimension.
"The collaboration wil enable Rangers' first team to tour international markets, such as North America, Far East Asia and the Middle East, in the years ahead.
"Rangers Football Club is incredibly fortunate to have the most passionate and diverse supporter base in world football, and we are excited to bring our men's first team to key international markets with the strong support of TEG as our partner."
According to Rangers, the partnership will also involve commercial ventures, including live music and entertainment, at the club's new multi-purpose venue at Edmiston House.
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