Newsletter

Get your daily update and weekly newsletter by signing up today!

News

Scottish FA want answers on Mike Ashley’s Newcastle and Rangers potential dual interest

6 years ago
Share

The Scottish FA’s  Chief Executive Stewart Regan has made public their concerns about Mike Ashley’s involvement at Rangers.

The SFA gave the Newcastle owner special dispensation to own up to 10% of Rangers, something which is not normally permitted by their rules banning involvement/interest in more than one football club and the conflicts that can bring.

Mike Ashley has stuck to that 10% pledge but the rules also make clear it is not just the amount of the shareholding but also any other influence that may be exercised over a football club.

The United owner now has significant commercial ties with Rangers through merchandising etc.

Whilst Ashley has also negotiated to have two nominees on the Rangers board, including Derek Llambias, to look after his interests. Part of the condition of loaning teh Glasgow club the money to keep trading, that debt standing at £3m already with speculation that up to another £12m could be needed just to get through to the summer.

No wonder that SFA Chief Executive Stewart Regan says that they need urgent clarification as to Mike Ashley’s involvement at Rangers, over and above his basic shareholding.

Stewart Regan;

“We have been in regular dialogue with Mike Ashley’s lawyers through MASH Holdings. It is still ongoing at the moment, we are still in dialogue.

“The next stage is to meet with Mike and his advisers and obviously get some clarification around some of the concerns we have got.”

Shareholding and influence;

“We have a situation in our articles which prevents dual interests in football clubs. We gave Mike Ashley the ability to have up to 10 per cent shareholding in the club.

“As part of that, there was a commitment there would be no management or influence at Rangers Football Club.

“Clearly we want to have a better understanding of his position in that regard.”

Share

If you would like to feature on The Mag, submit your article to [email protected]

Have your say

© 2020 The Mag. All Rights Reserved. Design & Build by Mediaworks