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Mike Ashley makes new Rangers cash loan offer in exchange for ability to choose board

6 years ago
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In yet another astonishing turn, Newcastle United owner Mike Ashley has offered an emergency loan to Rangers but only if he can then choose board members.

Ashley’s move follows this week’s Dave King offer(s) to help finance the cash-strapped club and get them through the season.

The BBC have reported this latest turn of events as Rangers are believed to be struggling to pay the wage bill beyond November, unless there is a major intervention.

The Beeb state that Rangers and Ashley have been in talks over the past twenty four hours and the move is dependent on the removal of Chief Executive Graham Wallace and Phil Nash, Director of Finance. The Newcastle owner then dictating who replaces the pair.

Needless to say, the two Directors being targeted were in support of Dave King’s bid, which also includes Rangers fans & businessmen Paul Murray and George Letham.

While the cash injection could potentially save Rangers short-term, long-term it could cause serious heartache for fans of the club.

Where Newcastle fans will have most interest if Ashley reaches agreement with Rangers, is what the authorities then make of Mike Ashley having so much influence over another club, whilst already owning Newcastle United.

He may have agreed with the Scottish FA to stay under 10% ownership of shares at Rangers due to his NUFC ownership, but surely in the real world such a loan/choose the board influence is far beyond any 10% ownership of the club.

***Later on Friday afternoon, Rangers announced that Finance Director Phil Nash had now stepped down, surely a clear indication of the direction things are heading…

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