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Mike Ashley Doubles Rangers Shareholding

6 years ago
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Only weeks after saying he wasn’t interested in buying more shares in Rangers, Mike Ashley has…bought more shares in Rangers.

The Newcastle United owner refused to take part in a rights issue to raise more money from existing shareholders to help deal with the crippling financial situation. The result being that the Glasgow club brought in just over £3m of the £4m they’d been hoping to raise.

However, now the Daily Record up in Scotland has reported that Mike Ashley has more than doubled  his stake in Rangers to around the 9% mark, just within the limit that he’s allowed to own as also being owner of Newcastle United.

Yesterday, investment firm Hargreave Hale had confirmed they were behind the sale of over 4m Rangers shares on the AIM  market.

It had been thought Dave King had purchased the shares but he denied any involvement yesterday.

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