Mike Ashley has lost his latest court battle concerning his dual interest in Newcastle United and Rangers.
Ashley was forbidden under the rules of the SFA (Scottish football Association) from having influence over Rangers beyond his 9% shareholding due to his majority stake in English Championship club Newcastle United.
A judicial panel ruled that he had breached those rules as a result of MASH (Mike Ashley Shareholdings) loaning Rangers money.
MASH/Mike Ashley entered into a credit facility arrangement with Rangers in October 2014 and as part of the conditions of the loan, Ashley nominated Derek Llambias as his representative and he was subsequently appointed as a director of Rangers International Football Club plc and its subsidiary Rangers Football Club Limited.
Mike Ashley’s latest legal move came in response to the decision of the governing body to fine him £1000, the Newcastle United owner claiming that an error in law had been made.
However, Lord Brodie has agreed with the view of the SFA’s compliance officer that Ashley, through MASH, had through the: “Very granting of the right to nominate directors in and of itself gave rise to the possibility of the petitioner influencing the affairs of two clubs.”
The size of the fine was obviously irrelevant to Mike Ashley but the fact that he has fought this action for so long, suggests that the judgement on dual interest does create serious problems moving forward, in terms of keeping ownership of Newcastle United AND his ‘influence’ at Rangers.