Rangers will no longer be required to participate in the Scottish Professional Football League’s cinch sponsorship deal following a dispute over the car dealer’s involvement.
But Neil Doncaster, the governing body’s chief executive, insists income “will remain materially unchanged” after a “revised” deal was agreed.
Rangers had refused to promote the deal and had taken the matter to court.
The club cited an agreement with rival car retailer Park’s of Hamilton.
Doncaster said the new deal “protects cinch’s pivotal investment into Scottish football”.
“Rangers are no longer required to participate by providing the sponsorship inventory that they have so far not provided, whilst, crucially, the overall income to Scottish football is expected to remain materially unchanged over the original five-year term of the sponsorship,” he said.
“It’s extremely good news that we have been able to work with our partners at cinch to develop an updated sponsorship package which delivers the same level of financial support to Scottish football, whilst providing additional SPFL media assets to cinch to compensate for loss of Rangers related rights.
“This deal gives us further confidence that we will exceed our budget and deliver fees to clubs of more than £27.5m for season 2021/22.”
A spokesman for cinch said they “welcome the evolution of our agreement with the SPFL”.
Rangers chairman Douglas Park, who owns Park’s of Hamilton, won a court order in August to delay the Scottish FA arbitration, which had been requested by the SPFL, into the row.
The Court of Session ruled that Park’s could take part in the arbitration process as an interested party.
The SPFL had warned the dispute could affect payments from the £8m five-year deal with cinch, warning clubs the stand-off presented a “real and substantial commercial risk”.
Rangers have yet to comment about the SPFL’s new deal.
