The latest move by Mike Ashley to gain control of Rangers is that former Newcastle Managing Director Derek LLambias, who resigned from Newcastle United in protest at Joe Kinnear’s announcement as Director of Football a year last June, is an applicant for the open CEO position at the club.
Derek LLambias arrives at Glasgow Airport last night
CEO Graham Wallace resigned yesterday with immediate effect, and that followed the departure of Finance Director Philip Nash, who resigned on Friday.
Those are the two Directors Mike Ashley wanted removed from the Board as one condition for his £2M interest free loan to Rangers, which will keep them afloat until the end of the year.
And Derek LLambias looks to be the new Rangers CEO, and on his arrival last night this is what Derek told a number of journalists:
“Mike Ashley has got a great track record but I can’t give you any comment. I’d love to but I can’t.” “I’ve been invited up here to have discussions with the board and I’m just one of many applicants.”
“I’m just looking forward to meeting the Rangers board at some point”
We wouldn’t say Mike Ashley’s track record at Newcastle is good at all.
It is expected of course that Derek will become the new CEO at Rangers and will run the club for Mike Ashley, and Mike gets to add one more Director of his own choosing to the Rangers Board.
Mike owns just under 9% of Rangers shares and has an agreement to keep that under 10% with the Scottish FA – but he effectively has gained control of the club in the power player over the last few weeks.
And we wouldn’t be too surprised if Ashley tries to raise his share ownership at Rangers above 10%.
Mike Ashley is not allowed to run two clubs that compete with each other – but the rules of owning two football clubs are murky at best, and there are different sets of rules for the various different football organizations.
Since the sole reason he has bought Rangers is because they are cheap at the moment, and they can quickly get back into the Champions League, does that mean there’s no way with Ashley at Newcastle we will compete in Europe?
That’s one good question, although Ashley may argue with authorities that with less than 9% of the shares he doesn’t legally own Rangers.
It would be interesting to know what Mike’s end game is with Rangers and with Newcastle United.
But since Rangers will not be competing in Europe for at least a couple of years those decisions come later, and at the moment Mike Ashley has simply achieved his goal and got control of Rangers FC.
An interesting thought is will Mike sell Newcastle United once Rangers are positioned again to compete in the Champions League?
What do you think?
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