Rangers have admitted that they have to work with Mike Ashley to take the club forward again.
When releasing the latest harsh reality financial results, the Rangers board were forced to concede that the relationship with Sports Direct is key to their finances for the foreseeable future.
The interim Rangers Chairman Paul Murray:
“Our focus must be on doing everything necessary to guarantee an exciting, vibrant and much more successful future and we’ll also be working towards creating better working relationships with all our commercial partners, including Sports Direct.
“We’re in the process of engaging with them because they are a large shareholder as well as being our key commercial partner.”
Murray also confirmed that Sports Direct are entitled to have two directors on the Rangers plc board until the £5m loan is paid back, the appointments to board sounding like they could happen sooner rather than later with the public admission of Ashley’s SD being their key partner.
The new Rangers directors must be treading a fine line as they try to keep the fans onboard but at the same time appear very much reliant on Mike Ashley and Sports Direct.
Going public on the no medicals for the five Newcastle loan players and the existence of the half million bonus for Newcastle if Rangers are promoted, has stirred up the supporters to detest Ashley and Sports Direct even more.
Having to now work with the retail partner will be a bitter pill the new look board are currently swallowing.
The Rangers board also stated that during the half year up to December 31, £54,000 was paid to Keith Bishop Associates, “a company of which the former director Derek Llambias was also a director.”
The same Keith Bishop Associates also of course look after Mike Ashley and his empire, including Newcastle United and Sports Direct.