Newcastle United owner Mike Ashley has been fined £7,500 by the Scottish Football Association for breaching the “dual ownership” rules because of his involvement in Rangers FC.
Mike Ashley – on Saturday at St. James’ Park
Ashley’s lawyers held a five-hour meeting with the SFA legal team last night, and the Scottish Football Association has just released its decision, and Mike was found guilty on the dual ownership charge.
A second charge relating to Disciplinary Rule 77 – in which those involved in football in Scotland must act in the best interests of the game – was “not proven” – a unique legal verdict in Scotland which says he was not guilty but also not innocent – the charge was simply not proven.
Ashley owns less than 10% of Rangers FC, and the Sports Direct magnate has been prohibited by the SFA from going over 10% ownership of the iconic Scottish club, which was an attempt to limit Ashley’s power at Rangers.
However, it doesn’t seem to have worked too well.
There is an Emergency General Meeting (EGM) of Rangers in London on Friday, when South African based businessman Dave King and his Rangers First organization, will try to gain control of the club.
That looks like it will be successful, but one of the agreements for the loans Mike Ashley has given Rangers, states that he can have two Directors on the Rangers Board.
Exactly how this thing will sort itself out is hard to say – but just like at Newcastle – it doesn’t appear that Mike Ashley is very welcome at Rangers FC.
That fine of £7500 by the SFA is unlikely to be any punishment to a man who is worth a whopping £3.5B.
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