Scottish Championship side Rangers insisted they will "regain all their trademarks and badges" -- once the £5M ($7.33M) loan is paid back to shareholder Mike Ashley, according to McLean & Swan of the Scotland DAILY RECORD. The Ibrox club "moved to outline the details of the position surrounding the deal with Sports Direct." Rangers signed over rights to registered trademarks to Ashley's firm "on a temporary basis when they took the credit facility at the start of the year." The club's statement clarified the details and "made it clear" they will be returned "as soon as the cash is paid back." The statement said, "Although the trademarks are registered in Sports Direct's name, the position is not as alarming as it may first appear. ... Rangers supporters can be reassured Sports Direct fully accept all of the IP rights registered in their name will be returned to the club when the loan facility -- the previous board drew down £5m -- is repaid" (DAILY RECORD, 4/13). The BBC reported South Africa-based businessman Dave King's new regime had promised a "speedy investigation after documents appeared" on the government-run Intellectual Property Office website showing the club's trademarks "were now controlled by SportsDirect.com Retail Ltd." The IPO site confirms the transfer from Rangers Football Club Ltd. to Sports Direct was fully assigned on March 25. Rangers said in the statement, "In return for the loan, Sports Direct took security over all Rangers assets -- but not Ibrox -- including intellectual property owned by the club." Ashley "already benefits from a 75% share of the club's retail income with his loan deal" (BBC, 4/12).