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The club’s liquidation means all monies raised for deals struck by the oldco are split evenly between the newco and the liquidation pot.

As such, the current board will only see £300,000 of the Jelavic cash while twice that amount would have been heading their way had liquidation not occurred.

A Rangers spokesperson confirmed: ‘The club will benefit financially from a sell-on clause that was in the original transfer agreement with Everton.

‘The money will be split between the club and the liquidation estate in accordance with an agreement that was made with the joint liquidators from BDO LLP.’

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This agreement was explained in the BDO report dated 22/05/13 under book debts.

To my untrained eye it looks like we were entitled to 100% of the Jelavic money (BDO took legal advice on this and wanted to avoid expensive litigation costs) but settled on a 50/50 split.

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