It has been claimed that £27m is the figure that would ensure Mike Ashley walked away from Rangers.

This follows reports of more black holes in the Glasgow club’s finances than first anticipated by the new Rangers board…with no surprises there.

Having taken control of the boardroom the first task is to ensure the cash is there to keep the club going week by week, which currently is happening due to the loans supplied by Mike Ashley via Sports Direct.

To stand any chance of breaking out of the financial noose though, they are faced with what could be a classic Catch 22 position thanks to the Newcastle United owner.

Alongside matchday income, merchandising is a massive part of Rangers’ income, or at least should be.

With the feel good mood after the boardroom coup, it is clear that the mood is ripe for raking in money via the various merchandise, to help get the finances in order and pay off the loans as well as the day to day expenses.

The only problem being that so long as Ashley/Sports Direct have any part of the loan outstanding, they bank the vast majority of the merchandising profit…

Obviously getting rid of Mike Ashley and his contractual ties and loans would give Rangers a fresh start, but in his latest column, Phil Mac Giollla Bhain says that his sources put a figure of £27m as the amount Ashley would take to walk away and sign everything back over to the club.

With £10m in loans for starters and the merchandise allegedly being worth upwards of £5m a year to him, it isn’t difficult to see how you can quickly get towards that £27m figure of worth to Ashley.

Having run into the resistance he has at Rangers, it would be a major shock if Ashley cut his losses and walked away, the smart money surely being on him simply waiting to see how much he can screw out of the club and the rebel shareholder who ousted Derek LLambias and others from the board.

One way or another Ashley will make Rangers suffer and unless major extra finance can be sourced, he will have them in the palm of his hand for some time to come.

With the Scottish FA having already fined Mike Ashley for dual ownership/interest at Rangers and Newcastle, it is hard to see him going on the front foot to try and retain control of the boardroom at Ibrox, as surely that would then presumably bring more solid sanctions after the token £7,500 warning he got last month.

Unless that is of course he has plans to sell Newcastle?

“Special


  • toastman77

    He isn’t selling us anytime soon.look at the coin he makes from us.

  • Bornunderabigbluestar

    There is a fixation in the media that MA wants to own Rangers. He wants what is best for SD. Thus far it all seems to be going to plan for him with the retail contracts and land securities sewn up and no dual ownership issues now. He will be chuckling, as lets face it, this is a lirttle side show gamble to him. Its not as though he lives in Scotland or has any emotional ties to the club.

    The new board have got themselves into a very difficult situation.

  • No Brainer

    utter nonesense

  • No Brainer

    Bornunderabigbluestar The new board are only in the sticky as they are full of **it, if they really had the money they have pretended to have then the following would have happened already
    The loans would have been paid back to MA
    The security over property and land assets the rights would be removed 
    The ability for two board members would be gone.
    the 75% of control of Rangers Retail would have reverted to 49%
    and so on and so on.

    This probably isn’t over.

  • No Brainer

    1957 no its just a media numpty making stuff up. putting 10m and 220 grand together with almost 9% of a club worth £30 together and making £27m

    For heaven’s sake its maddness

  • Ibrox Bear

    No Brainer  You beat me to it…

  • mentalman

    Rangers are hailing the new board as saviours, if they have the money which is needed to keep Rangers going why did they allow the club to get in to a position which allowed Ashley to move in with his loans and dodgy deals

  • Sickandtiredstill

    No Brainer Bornunderabigbluestar Or they find/have found that the loans are loaded with an exorbitant early settlement figure. 
    Given how desperate Llambias was to push through the second 5 million in the death throes of his tenure, then that would appear extremely likely if not guaranteed.
    The RRL ‘deal’ has already been proven to be utterly one sided in SD’s favour. 
    RRL cannot roll back to 49% as the increase (to 75%) was due to the Ashley (MASH) loans in Oct/Nov ’14, not the SD money which followed in January. That was also when he exchanged the Ibrox naming rights for ground advertising rights for SD.
    Once again, Mike Ashley doing deals as MASH but gaining benefits for SD.

  • Jon Bovi

    The writing in this so called article is terribly loaded.
    Statements such as ” one way or another Ashley will make THEM suffer”.
    This a clear desire of the author. A wish, hope or even a dream that the author hopes will to be true.
    Ask yourself, why would anyone invest money in anything with the primary concern or desire of seeing it suffer?
    Considering the advertising potential of a successful Rangers for sports direct (Eurpoean football potential), there is no doubt Ashley is hoping for success at Rangers.
    He wanted to own 2 clubs without actually owning 2 clubs so that Rangers could benefit Newcastle with the likes of loan signings seen this year.
    Mike Ashley was never trying to “PUNISH” the club but rather take ownership without actually taking ownership.
    That move has been blocked and new approach required.
    Keeping in mind mad Phil claimed last Friday that the outed board members would be placed imediatley back on the board on Monday morning by Mike Ashley which never happen like Mad Phil had hopped it would.

  • Toon69

    I’ll give it a fortnight before the ‘New’ board go begging to that Yank who tried to buy them ealier this year for financial help to oust Ashley, as none of the ‘New’ board have the capital to even consider paying out that sort of money, so they’ll either go begging to the Yank or come crawling to Ashley for more.. he maybe the bain of Newcastle but the guys not daft, it’s a win win situation for him, cash in the hand or the club!!

  • Sickandtiredstill

    Jon Bovi  I would suggest punish is the correct term to use if someone wants to control something without owning it. They have to dance to his tune and yet he’s unanswerable to anyone, unless they can suddenly afford to get out from under his financial control.
    It’s financial bullying which is completely consistent with how he approaches and operates all of his business. 
    He has not had RFC at heart at any given stage, he simply wanted their brand, retail and fan base to further his SD monopoly.

  • Sickandtiredstill

    mentalman Coz Whyte was talking to Ashley as far back as 2011. Greene then done the RRL/Ibrox deals (after screwing Whyte over) with Ashley in 2012. 
    The Easdales and Somers wanted Ashley to ensure they retained their own Board seats. Llambias was instrumental in having the first King bid rejected in favour of Ashley’s loans.
    It’s all out there in the public domain to read.

  • Jon Bovi

    I’m afraid you’re mistaken in you’re reply through your use of assumption.
    Further highlighting your frustrations and hopes.
    I never questioned the use of the word “punished” being the right term or not (Asumption).
    What I pointed out is the article being loaded (written from a non neutral perspective).
    You haven’t even attempted to counter the statement I made In reference to the term “Punish THEM”. Which was used rather than terms punish Rangers. Thus highlighting the ‘Us and them’ mentality of the author which appears to have contracted from Mad Phil.
    This most obvious of signs that the author is biased and is sharing his hopes rather than known facts in a similar manner to last Friday’s rantings of Mad Phil.
    To answer your irrelevant reply.
    Ashley is looking out for his own intrests, this is not a “PUNISHMENT” for Rangers. I doubt Ashley truly intends to punish the club as Rangers success will be a fantastic advertising opportunity for sports direct and Mike Asley.

  • dude 1

    the man will never walk away £27million not enough for Mr Ashley as for the 2 people he can put on the board I think he is playing a waiting game

  • Sickandtiredstill

    Jon Bovi Well, thanks for the lecture. Whatever my frustration or hopes are, you certainly aren’t party to them.

    However, if Ashley has ensured that punitive charges are in place (RRL deal definitely has those) then trying to get out of those (loaded) agreements would be both ‘punishment’ and the club would ‘suffer’ financially as a result. That’s exactly why they will be in place and what every right minded watcher expects.

    As for interests, what are those exactly? Other than his shareholding he has no personal stake in RFC any longer. In fact, he’s already made a profit on that as well.

    SD is a public company and it’s about time he was brought up for representing his own interests (MASH) and a PLC at the same time.

  • v0ices

    Jon Bovi no gain available for Ashley champions league sponsors are the only ones allowed to be shown any SD branding would have to be removed or covered.

  • v0ices

    dude 1 I wonder if he will insert wise and JFK punishment enough.

  • Jon Bovi

    Im afraid it appears much of what you write in reply to my comments isn’t directly relevant to my comments.
    In reference to being party to your hopes and frustrations. It’s amazing what an empathic person can extract from the written, spoken

  • Sickandtiredstill

    Jon Bovi Be as empathetic as you like. Sadly it doesn’t make you able to comprehend any better nor get your head out of your own [email protected]

    I answered your punishment, suffer, invest and interest comments quite sufficiently.

    If the author is biased, so what. That is what Ashley brings – division.

  • Sickandtiredstill

    v0ices Jon Bovi shhhhh, you’ll dent all of the Ashley dreamers belief in the delusional quest for European football exposure!
    Wonder why they think SD would sponsor Carlisle – or have kit deals with Sheff Weds and Pompey, if that was the case.

  • Jon Bovi

    I’m not aware of the details however I imagine even the advertising created from a full stadium now and the possibility to increase global market reach through extended Tv coverage when Rangers do eventually return to the premier league would be good enough.
    The recent Celtic Vs Rangers match appeared to have been popular. The possibility of any European connection could be bonus I suppose.
    If it came down to it I think the Rangers board would seek to legally nullify the the contracts in place before they were to pay out 27 Million to Ashley. The recent rulling on dual ownership could well help in any possible legal battle.
    Personally I think If Ashley was out to “Punnish” Rangers I think he would have kept the stadium naming rights.
    Ashley took a gamble as it was always win win for Ashley but really there is nothing lost for him at this point. Without the fans on board he could never have moved forward,
    It will be interesting to see how it plays out,

  • LeazesEnder

    Sounds like blackmail to me… ‘gimme the money, or I’ll do to yo what I’ve done to Newcastle’

  • Jon Bovi

    I’m somewhat disappointed in this attitude “so what if the author is biased”.

  • Ad47195

    The money being quoted is pocket money for a billionaire – for us fans I really wish ‘business men / a-holes’ like this would make a quick buck elsewhere and let someone with real passion and enthusiasm for the game step into the void!

  • Sickandtiredstill

    Jon Bovi No surprise in that. And if you aren’t aware of details, why are you commenting on them?

    Everyone’s opinion is biased – by their own take on things or the point they wish to make. Just because you don’t like it doesn’t make it any less valid.

    As for nullifying contracts, I do believe that is exactly what this article is pointing out. He (Ashley) will have financial penalties or disincentives in place to counter that and it will likely cost RFC dearly to get out of them. The writer may be biased in his feelings towards that, but the facts remain facts nonetheless.

    As he already has 75% of RRL, security on major assets, advertising rights AND 50% of the shirt sponsorship money until the end of 17/18 – just what other financial limitations do you think he could place on them and it not be deemed punishment?

  • Corkyjohn

    Jon Bovi….has anyone ever told you that you’re a boring c……

  • pissed off mag

    Jon Bovi  you are a bell end

  • partworntyres

    its so nice to see him screwing another set of mugs for a change!

  • Greggy164

    No Brainer 1957  Well said NoBrains. Are you feeling ok?

  • Greggy164

    mentalman  Why hasnt he appointed 2 board members then?

  • Greggy164

    partworntyres  Bit harsh. Glasgow has pished on Ashley. He has lost. He knows he has lost. It was easy. Candy from a baby hahahaha

  • Greggy164

    Glasgow parked their tanks on Ashleys lawn. Ashley shat it. Just like Llambias and Leach.

  • Greggy164

    dude 1  Where are his 2 picks for the board? Llambias and Leach wont be back. Anyone else he tries to put on board will be chased as well. Ashley doesnt lose but Glasgow has slaughtered him. He knows it.

  • No Brainer

    As I see it he is still getting 75% of the retail money and the two suspended employees are still being paid thats how thick your new guys are

  • Sickandtiredstill

    No Brainer  Llambias and Leach are suspended from their duties. 
    I figure you’ll still be as ‘thick’ as the people you are trying to make fun of when you eventually find out how much he has scalped this club for too.

  • v0ices

    Sickandtiredstill No Brainer I hate to think what the final figure will be, Ashley will leave the club once he’s drained every gram of value from it. Nufc has been through difficult times before but the state of the club when Ashley leaves could be its lowest ever.

  • Sickandtiredstill

    No Brainer They are suspended so it’s unlikely they’ll be being paid.

    Anyhow, SD gets (sorry, was given) 100% of our retail operation as well as wall to wall advertising for free. How thick does that make you and the rest that support that?

    SD are a PLC for heavens sake and they and their other shareholders (as well as Ashley) benefit and profit while the club loses revenue vital to it under FFP.

  • Lewis MacLeod

    I have always rated the newcastle fans for their loyalty. I think you guys and us should unite and protest against Sports direct at it’s finest :)

  • Bornunderabigbluestar

    Greggy164 If thats what you think you are in for a shock matey

  • delbx3

    Phil Mac Giollla Bhain is a rabid Rangers-hater who has been wrong about Rangers many times. Anything he says about Rangers should be taken with a lorry-load of salt.

  • RobertSutherland

    Your “article” is so anti British it’s laughable. Grow up you sad bast*rd.

  • Chemical Dave

    Spot on sickandtired, there’s the occasional poster on here that clearly works for the club (simon Carr) and the odd one who is simply thick as mince….like no brained for instance.

  • Glasgow Mag

    Here’s what pro Irish Republican group think of mentally ill Phil, http://talfanzine.info/blog/tag/phil-mac-giolla-bhain/ 

    The fud’s a fantasists.

  • Greggy164

    No Brainer  Come on NoBrain. This is too easy.

    How can you expect anyone to take you serious?

    “thats how thick your new guys are”. Are you meaning the new board?
    How many board members do you know? I would guess 0
    How many have you spoken to? Again I’ll guess 0.
    What makes you qualified to comment on their intelligence? There are self made millionares on the board but you want us to believe that you know better.

  • AmandaSV
  • Greggy164

    Bornunderabigbluestar Greggy164  No shock here. Llambias has been passed about Glasgow like a scud book. Easy. We have destroyed the myth Ashley doesnt loose.
    What he does in Newcastle will never be accepted in Glasgow. You may be feeling shame or guilt with regards of how he rips it in Newcastle but here in Glasgow he is finished.It was easy.Llambias and Leach wont return to Glasgow. If Ashley had a fight in him he would have appointed his 2 board members. It hasnt happened. It wont happen.

  • Greggy164

    AmandaSV  Amanda do you work for him?

  • Greggy164

    Hahahahahahaha Stuart McCall says he wouldnt have signed up for managers job if Ashley was still involved.

  • scotty63

    delbx3 he’s also been right a lot of times and my only interest in Rangers is in relation to the Newcastle saga – my uncle was a hibee so thats where any Scottish football interest is.

  • scotty63

    RobertSutherland please expand i’m interested in your train of thought

  • delbx3

    “he’s also been right a lot of times”.
    Nah. Though even a broken clock is right twice a day.

  • Sickandtiredstill

    delbx3 twice more than you then.

  • Sickandtiredstill

    That my friend is an excellent idea. Sadly the best part of 52000 can’t even stop turning up let alone protest against anything.

  • Sickandtiredstill

    Chemical Dave yes mate. No Brainer and the newly appeared alter ego -Jon Bovi. 
    They talk the same shyte as the Club, trying to baffle with bullshyte opinions which are never backed with facts. Indeed, those people hate facts, because it makes them look as moronic as they surely are.

  • Sickandtiredstill

    Greggy164 dude 1 Greggy, fact is he doesn’t know anyone else to put forward. He has a a small crew of like minded parasites who he trusts and he uses the same people in all of his business dealings.
    He may win the financial battle because of the disgusting way he has tied everything up, but you can be assured he will never show his smug fat face at Ibrox.
    Hats off to you all for that at least.

  • Sickandtiredstill

    AmandaSV SD, the company which has kit leaving its Asian sweatshops with 70% discount tags already attached to its gear.
    25p to make a Lonsdale T Shirt which then retails for 13 quid…And some of you wonder why he wants ours, Rangers and any other football clubs retail operations??? 
    He owns shyte brands, he makes shyte, he sells shyte and all he wants to do is sell more of it thanks to the advertising football brings as well as the fanbase  of clubs which provides access to a larger (global) market.
    Nothing to do with being a supporter of any club, unless you buy their gear. They aren’t interested in football at all otherwise.

  • DavidDrape

    AmandaSV money grabbing bampot

  • Greggy164

    Sickandtiredstill Greggy164 dude 1  He has been humiliated. There is stuff still to come out. On the day of EGM they were trying to get club funds released to them. 6 phone calls between 10am – 10.30am. They tried all week to put pressure on 1 individual to release money to them. They are done. Ashley is done. Easedale knows this hence his abstain from voting at EGM and his resignation. These other 2 are caught lovely. I would think Ashley is trying to negotiate a dignified withdrawal

  • Greggy164

    scotty63 delbx3  Great clip on Youtube. Hibees singing Sunshine on Leith at Hampden. Makes hairs on back of neck stand up. Amazing

  • Greggy164

    Jon Bovi  Its already played out. He was humiliated

  • Greggy164

    scotty63 delbx3  You saw it.
                                      You claimed it.
                                       You touched it.
                                        You saved it

  • No Brainer

    You struggle with plenty fella thats why your on other teams sites an awful lot.
    as for them being thick well it is obvious that in late 2014 when leach and llambias joibed as rxecutives they went about cost cutting rather tuthlessly to the long term benefit of the club. That club is currently lossibg still approx 950k per month. Any business man with half a brain would keep tge executive in place fir at least a couple of weeks to hear analyze and judge the benefits of what plans actions tgey were leading the staff team through.
    with them suspended it leaves people unsure as to what is happening as every one knows they don’t gave ready xash right now.
    .

  • Steve1221

    But he is still involved

  • Toontoon09

    He’s a retailer, what do you think retailers do ?!
    They buy and sell products for profit
    Dear me, surely you can come up with something better than that

  • shearer9

    Greggy164 Bornunderabigbluestar rangers are a PLC, we aren’t, that’s how it was easy you idiot, do you understand that you moron. Remember he still owns your merchandising rights, let’s see how easy that is to get off him.

  • Demented_Man

    shearer9 Greggy164 Bornunderabigbluestar 
    Greggy is right.  Newcastle supporters are a damned disgrace the way they’ve allowed the fat parasite to roll over them.

  • Sickandtiredstill

    No Brainer

    If Llambias was ‘appointed’ as a RFC exec in 2014, why was he at the Rangers Fans Forum with Charles Greene in Feb 2013 (as MD of NUFC at that time) trying to explain the ‘merits’ of SD having the Ibrox naming rights?

    That is 1.5 years before he became a RFC Director.

  • Greggy164

    Steve1221  He owns 9%. He has no control of our club. The cotracts arent worth the paper they are printed on.

    You dont need to defend Big Mike. He has been humiliated. Llambias and Leach dont want to come back. Pair of shitebags.

    Glasgow 1-0 Ashley
    Easy easy easy

  • Greggy164

    shearer9 Greggy164 Bornunderabigbluestar  Have I touched a nerve shearer9.

    Whoop Whoop Glasgow says no Ashleys got to go.

    Easy easy easy.

  • Greggy164

    scotty63 delbx3 

    My heart was broken, my heart was broken
    Sorrow Sorrow Sorrow Sorrow

  • Steve1221

    He might only own 9% but his influence is far greater than that, if you think his bleeding of Rangers is over you’re living in a dreamland. Just wait till the latest bunch of crooks can’t pay the wages and see who they go running to.
    Ps I live in Glasgow, the opposition to Ashley hasn’t been anything spectacular and even for this supposed new dawn you had a half empty stadium. It hasn’t been a protest, it’s just been poor support over the past couple of years.

  • Greggy164

    No Brainer  While Im worth my room on this earth, I will be with you.

  • Greggy164

    Steve1221  Clutching at straws.

    He will make money from Rangers but nothing like he thought he would. He is done. His 2 henchmen are done. He will have no representation on board. He knows it. Whoop Whoop

  • Paubry

    Mike Ashley has not now or ever put £10m into Rangers.
    He provided £3m then a further £5m but £3m had to be repaid.
    His hold over 75% of retail is only in force during the period of his loan.
    So the new board keep hold of his cash during the period when no games are played, and investigate the contracts etc. next season subject to what is found they pay it back via the new very wealthy board using own finds.
    At what point does he hold any ransom over Rangers board or ability to influence anything in the club £27m is a joke headline figure when total owed is £5m

  • Paubry

    As for the post alluded to by the Irish contingent how wrong could one man be.
    Let’s talk AIM why does he need or want it?
    He and the board are not looking for city investment. Take the club private and save the money that was his statement.
    As for the board, park and Gilligan both highly esteemed business men with own wealth let’s see what he can dig up on those guys, seeing as at the moment king isn’t even a director.
    Love to see one sided journalism with an agenda, but when you step back and look at the people who are making decisions now in Rangers well the future looks at its brightest for years.

  • Paubry

    75% of nothing is …….. Nothing. Until the merchandising rights are resolved the fans have boycotted purchasing it.
    The repayment of the loan (only if it’s legal and beyond scrutiny) removes the hold over the merchandise
    The ex board members Are suspended and under investigation – so rather than cost the club, it’s likely they will be paying the club once the misconduct is found.

  • Greggy164

    Paubry  Well said Paubry.

  • No Brainer

    Do you think he gives a f*vk?

  • Greggy164

    No Brainer  Of course he does. Hes been slaughtered. Humiliated.

    There is more to come. He knows its finished. Why are Llambias and Leach suspended? Why did Easedale abstain then resign?

    New board has done more in 4 days than Ashley has done in all his time. After admin with C Green

  • Greggy164

    Paubry  You are talking too much sense.  Its easier to believe the propaganda in the papers. Lawns and tanks. That sort of stuff

  • Steve1221

    You really are blind

  • newcastle7

    Without Ashley Rangers will go bust again but this time it will not be relegation to division four but the highlands league.The former directors have been stealing millions for years yet the Rangers fans did nothing about it. Its a bit like Man Utd getting relegated to the conference a disgrace.When someone actually puts money in instead of taking it out you hate him strange supporters.Get the former board back and enjoy the rest of your lives in the lower divisions.

  • Ibrox Bear

    newcastle7 SD has LOANED Rangers £5 Million and as security has the Retail buisness, and other assets which will be returned on payment of the £5 mill,      Ashley probably spends about 10 minutes a day ïf that¨ talking about Rangers so all this talk of  punishment and revenge is in my opinion nonsense..    The rest of your post   is wishfull thinking.

  • Greggy164

    Ibrox Bear newcastle7  Bear dont bite at this nutcase. Newcastle7 is trying to wind people up.