Mike Ashley's discount sports retailer continue to have advertising rights, but (after pressure from supporters groups) the club confirms Ibrox will NOT be re-named "Sports Direct Arena.
Ashley incensed Newcastle fans when he renamed St James's Park the Sports Direct Arena back in 2011.
Geordie protests
It was only changed back to St James's Park when Wonga took over sponsorship and claimed the naming rights.
They took up the option, and won favour by choosing to give the stadium back its identity.
Ashley bought the naming rights to Ibrox in September for ONE POUND.
Rangers' executive chairman David Somers told The Record: "This agreement has been concluded to demonstrate the importance both parties place on our relationship.
"The Rangers board welcomes this visible demonstration of the Sports Direct support and long term commitment to Rangers."