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Rangers surrender to Mike Ashley

6 years ago

The probably inevitable outcome has come to pass, Rangers have today fallen under the control of Mike Ashley.

The Glasgow club turned down a last minute emergency loan of £3m from the owner of Sale Sharks rugby team, Brian Kennedy.

With the other competitor Dave King having departed without getting anywhere, it means that Rangers fans are facing a future with Mike Ashley.

Only a few weeks ago Ashley refused to put any money into a rights issue to help pay bills, though then bought shares privately from another shareholder, but now has had his initial offer of a £2m instant loan accepted by the Rangers board.

Already controlling the club’s retail division of the club and famously buying the naming rights for a pound, now this morning the Press Association report that the Directors voted to accept Mike Ashley’s loan and everything that goes with that.

The writing was on the wall yesterday when Finance Director Phil Nash resigned, he being one of the two Directors Ashley had intended to force out via a special shareholders meeting.

The Press Association saying that their sources reported that Mike Ashley was ‘keen to increase his involvement at Rangers’.

Recently, Newcastle United bizarrely stated on Ashley’s behalf that he would be at United until at least the end of the 2015/16 season.

Many observers taking that to mean he intends to sell Newcastle then – as ever with Mike Ashley though, we have come to expect the unexpected, sadly.


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