New Rangers board hold first meeting with Mike Ashley

Date: 23rd April 2015

The first meeting between the new Rangers board and key shareholder Mike Ashley has been described as amicable. Board members, including interim chairman Paul Murray, met with the owner of English Premier League club Newcastle United on Wednesday to discuss his continuing influence at Ibrox.

Ashley currently holders around 9% of the shareholding of Rangers, as well as having a £5m secured loan in the club. He had previously offered the former board a further £5m – an option that the new ownership is not expected to explore.

Both Ashley and Rangers have recently received fines relating to the SFA’s ‘dual ownership’ regulations; the club £5,500 and Ashley £7,500 by the SFA Judicial Panel.

Ashley was deemed to have influenced the management or administration through the appointment of business associates Derek Llambias and Barry Leach to the club’s board. Both of whom have since left the club following Dave King’s successful resolution passed in March.

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