Shit Jersey on eBay - advice please

I got the same flandria red jersey, well its more of a t-shirt condsidering it is cotton.

It smelled old & dusty so I washed it first by hand in cold water yet the colours ran all over the place. All the white bits are/red/pink now and I havent been able to wear it cos it looks like shit.

Also the shoulders are mad tight in relation to the rest of it.
Shit isnt it! also the arm holes arm really tight! i mean i know its just a tenner, its the principle really. .