Rangers have issued a statement in the into their dispute with Sports Direct being released.
The Ibrox club lost a long-running case with Mike Ashley’s firm at the High Court in London as the two sides battled over the merchandising and retail agreements at the club.
Lionel Persey QC issued a lengthy judgement on Monday that found in Sports Direct's favour after Rangers snubbed Mike Ashley's firm to sign a new retail deal with Elite/Hummell.
A club statement said: "Rangers would like to reassure supporters that matters concerning the litigation currently being brought against it by SDI Retail Services Limited are not as reported.
"Rangers was disappointed by the terms of the recent court judgment but respects the decision of the court and will meet any financial award made by the court.
"No such award has yet been decided and at this stage Rangers does not even know how much will be sought. Contrary to some reports, the judge has not determined that the contractual cap on damages will not apply.
"Rangers would also like to reassure supporters that no steps have been taken to stop supporters being able to buy this season’s replica kits."
In his lengthy ruling, Judge Persey concluded bosses at Rangers had made the new agreement with Elite/Hummell without giving Sports Direct, which had a retail deal with the Ibrox club that was expiring, a chance to match the other firm's offer.
The judge declared: “I am satisfied that SDIR would have matched those arrangements had it been given the opportunity to do so.”
He said Sport Direct were entitled to damages but a decision on the amount will be made at a later date.
He wrote: "SDIR’s losses are likely to be in the order of many millions of pounds.
"Rangers has pleaded that it will rely upon the Non-Exclusive Rights Agreement to limit its damages to £1,000,000. I accept SDIR’s submission that it would be unjust to deprive SDIR of the benefit of its matching right provisions."
This could open the way for Sports Direct to try to seek a higher amount in damages than the maximum sum stipulated in the contract although the company could settle for £1m and the termination of the Elite/Hummell deal that would put Ashley back in charge of Rangers' retail operation.
