Rangers have sparked a fresh battle with Sports Direct after effectively terminating the sportswear firm's right to sell goods featuring the club's badges.

The Ibrox side have terminated an intellectual property agreement with Rangers Retail Limited, a joint venture company between the club and Mike Ashley's business.

Under the terms of the deal, which Rangers are tied to for a further seven years as they serve a notice period, Sports Direct receive the lion's share of revenue generated through retail sales of club-branded goods.

The move, in theory, will continue to allow Sports Direct to exclusively sell goods manufactured by Rangers Retail Limited.

But with Rangers now the sole holders of the copyright, the products won't be able to carry club trademarks.

In a statement, the club said: "Rangers Football Club Limited has today served notice on Rangers Retail Limited terminating the IP Licence and Rights Agreement with that company with immediate effect.

"The club now needs to speak to its commercial partners to agree the next steps flowing from the termination and will make no further comment on this matter whilst discussions are ongoing.

"The club will endeavour to communicate further with its supporters and customers for Rangers kit and other Rangers products as soon as it is in a position to do so."

Records at the Intellectual Property Office already show all trademarks have been returned to the club.

Accounts for the last year of trading by Rangers Retail Limited are currently overdue at Companies House. Financial figures for the year ending April 30, 2015 were due on January 31 this year.

Sports Direct were unavailable for comment when contacted by STV.