Today it has been confirmed that Mike Ashley is the third biggest shareholder in Rangers.

The club alerted the London Stock Exchange today that Ashley currently has 8.9% of ‘The Rangers Football Club Ltd’, with only Charles Green (14.9%) and Mazen Houssami (11.9%) owning more.

The club had to reveal these details as it announced a public share offering allowing the public to buy a stake in a new holding company which will be ‘Rangers International Football Club PLC’.

The announcement says that the share issue is aimed at raising up to £27m capital, while ‘Rangers International’ will, “…own and operate”, the current business that runs the club, ‘The Rangers Football Club Ltd’.

The statement explained;

“Upon admission, Rangers International Football Club PLC will acquire Rangers Football Club Limited on the basis of a one for one share exchange and after admission, Rangers International Football Club PLC will be the holding company for the group”.

As to all the technicalities of exactly what the public would be buying into, I think it is up to them to get their own professional advice but from a Newcastle United perspective, we look on with interest as our owner buys into another club.

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