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Mike Ashley reveals intention to take out security over Rangers’ Ibrox home

7 years ago

It has been revealed this morning that Newcastle United owner Mike Ashley has posted his intent to take out security over Ibrox, the home of Rangers.

The ‘notice of intention’ to take out security has been posted by Mike Ashley under the Sports Direct mantle.

STV have reported that they have seen the relevant documents which show that Ashley/Sports Direct intend to add their name to the title deed of the ground.

The Newcastle United owner has five weeks to complete the application but this is seen as a clear sign that Mike Ashley will provide a further loan to keep Rangers trading, the Glasgow club having already said that they don’t even have enough cash to see out January.

In recent days Rangers turned down a package of around £20m from USA based Robert Sarver, stating it wasn’t a high enough offer.

If Mike Ashley does indeed take up security of Ibrox in return for a loan then it will be something nobody else has managed, as a contingent liability was detailed in the club’s accounts relating to claims by Craig Whyte that he was the legal owner of Ibrox.

Also, by lodging this document, if any other party came forward to provide funding they couldn’t secure the loan against Ibrox, because Mike Ashley’s notice of intention takes precedence.

As Newcastle fans we continue to wonder what Mike Ashley has planned for both Rangers and especially Newcastle United.

The fact he is clearly not giving up his Rangers involvement easily suggests that his hold over the Glasgow club will be ongoing but how will that impact on United?


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