Rangers need about £10M for them to be financially viable through the end of this season, and Mike Ashley has again come forward and offered them a £10M loan, but as usual the loan is one that comes with some strings attached.
Mike Ashley – what’s his end game with Rangers?
The Newcastle owner is savvy in using these loans to take more and more control of Rangers FC, and the news is that he will give out the loan, but in return he wants as security, the Ibrox Stadium and the Murray Park training ground.
Dave King and the Three Bears consortium have bought a number of Rangers International FC PLC shares recently and they have also offered a £5M loan, but they want two seats on the board in return.
It looks as though the Rangers board will move ahead with Mike Ashley’s loan offer, although Rangers fans will be livid if that happens.
The £10M loan from Ashley will see Rangers viable until the end of the season, but the Rangers fans simply do not trust Mike Ashley, who is the outright owner of Newcastle United.
The Rangers Supporters Trust (RST) have issued a statement today, and say they will take legal action if the club accepts the loan and the conditions of the loan from Mike Ashley.
This is the statement they issued:
“The RST is taking urgent legal advice regarding the attempt by the board of Rangers Football Club to pass the most prized assets of the club to Mike Ashley. We believe the board may be acting illegally on two fronts and we will be working with any other shareholder who wishes to challenge this.”
“Quite frankly this latest move by the board is legalised theft and we will not stand by and watch it happen. If necessary we will instigate legal action against the directors both collectively and individually.”
“We have also contacted several MPs and will be seeking political and government support to stop this attempted asset grab.” “We would urge anyone who feels the same to support us in our efforts and helping [sic] us fight this corrupt regime.”
“We have to rely on our strength in numbers and each other. It is time to come together and take back our club.”
Nobody really knows what Mike Ashley is up to – and that alone is worrying not only for Rangers fans but for Newcastle fans too, since clubs with the same owner cannot compete with each other in UEFA competitions
This leads to all kinds of questions as to who would play in Europe if both clubs are effectively owned by Ashley and both qualify for those competitions in the future.
The Scottish FA have asked Mike Ashley to explain what his long term intentions are for Rangers FC – but it seems they have yet to receive any information on what Mike Ashley is up to – other than using Rangers’ desperate financial situation to effectively take over control of the famous Scottish club steeped in history.
Newcastle fans may be hoping that Mike Ashley sells Newcastle in the future to take over Rangers FC, and a worldwide search is on to find that Geordie Billionaire perhaps hidden in the Far East, who could then buy the club and return us to our former glory.
Unfortunately we haven’t found them yet. 😀
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