Rangers Fans To Take Legal Action If Mike Ashley Loan Accepted

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 at Stoke

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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18 comments so far

  • Thump

    Jan 15, 2015 at 2:27 PM

    Comment #1

    If he were to buy Rangers, he’d undoubtedly get them into a suitable financial position, but I highly doubt it’ll be the OldCo Rangers that we’re all familiar with.

    Ashley has damaged his own brand with Newcastle, and he doesn’t even realise it. Like Whelan said “He likes to park his tanks on other peoples lawns.”

  • optimistic prime

    Jan 15, 2015 at 2:27 PM

    Comment #2


    He’s behind you

  • jesperfuglsang - capt'n awesome of the lemon crew

    Jan 15, 2015 at 2:30 PM

    Comment #3

    It’s not like we are going to compete in Europe any time soon…and neither will Ranger (they are barely hanging in there)

    …but if anyone has £250M it’s time to speak up!

    One thing I do know I don’t want to be another Citeh.


    I think we should concentrated on changing Newcastle’s fortunes and not focus so much on Rangers.

  • 70TWO

    Jan 15, 2015 at 2:30 PM

    Comment #5

    If it were a £30-50M loan I could understand the rational for securing with the stadium and training facilities. However the suggested loan does seem to massively undervalue the clubs assets and provide ownership in all but name.

  • jesperfuglsang - capt'n awesome of the lemon crew

    Jan 15, 2015 at 2:31 PM

    Comment #6

    …I know news are running a bit low this month even though this month could have been so good 🙁

  • Transfer Sage

    Jan 15, 2015 at 2:33 PM

    Comment #7


    I’d rather be a City than a Chelsea.

    At least city develop strong links with the local community in grass roots football and other areas. They have also build quite possibly the world’s best academy and are trying to become self sufficient after the initial investment. They may spend too much but at least they are also putting a lot back into the local area.

  • optimistic prime

    Jan 15, 2015 at 2:34 PM

    Comment #8

    We’ve never won anything of real importance in 70years, would the Citeh route be that bad?

    Who wouldn’t rather have the Mansoods over Ashley.

  • optimistic prime

    Jan 15, 2015 at 2:35 PM

    Comment #9

    I’d have the venkys at a push 😉

  • Transfer Sage

    Jan 15, 2015 at 2:36 PM

    Comment #10


    Although it does kind of feel like cheating doing what city do. It’s like when you used to play the PC game The Sims and get bored of working your way up with work, use the money cheat and build a great big house.

  • Transfer Sage

    Jan 15, 2015 at 2:41 PM

    Comment #11

    On the news about siem being fit….it’s very good.

    In the two games he played, Ayoze Perez came on as a sub and both times they linked clever 1-2’s on the edge of the box resulting in a shot on goal. I think they will play well together.

  • Average_Contents

    Jan 15, 2015 at 2:42 PM

    Comment #12


    Like I mentioned earlier. He now has his stranglehold so tightly gripped around the rangers throat that he can do what he likes. If he’s undervalued the stadium and training grounds then there’s definitely something in it for him like they go bust and they are his assets to do with how he sees fit ie sell and make much much more than £10m for both, however if they remain solvent then he has them over a barrel. Win win for fatty.

  • blew

    Jan 15, 2015 at 2:42 PM

    Comment #13

    Rangers fans are prepared to take action in
    the interest of their club.
    Toon fans……………….?

  • midweek weekend

    Jan 15, 2015 at 2:43 PM

    Comment #14


    Its so hard to hold down a job on the sims, I kept being late and got sacked, but after I finished furnishing the the 5th bedroom i didn’t care where the money came from just sat back and enjoyed the mansion.

    Bottom line I’d kill to be taken over by a ambitious billionaire can’t stress ambitious enough

  • midweek weekend

    Jan 15, 2015 at 2:44 PM

    Comment #15

    Sorry transfer sage****

  • grem1983

    Jan 15, 2015 at 2:44 PM

    Comment #16

    Basically all Ashley is doing is loading Rangers with his money (in loans) and when he finally sells us or the SPL allow him to buy the club he will transfer these loans into shares and take ownership of the club

  • Keith in France

    Jan 15, 2015 at 2:55 PM

    Comment #17

    Rangers supporters must be fairly well off if they can afford to take legal action.
    They would need a solicitor and then a barrister if it came to court – if they lose then they would be faced with substantial court costs too!
    Drop in the ocean for MA.

  • jj112

    Jan 15, 2015 at 3:50 PM

    Comment #18

    I think we need to turn and look at Godolphin, see if he fancies a football club!


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