With Newcastle being in so much trouble trying to stay in the Premier League because of the poor decisions made by Mike Ashley in January not to strengthen an already weakened squad, the very last thing we want to hear is his dealings with Rangers FC – but that’s the news this morning and it looks like Mike Ashley now wants his £5M loan back from the Scottish club.
Mike Ashley – Newcastle owner wants his loan returned
Mike Ashley is bringing his (sometimes dubious) business dealings into the game of football, and it’s not good to see, and we often wonder if he’s a proper and fit person to be an owner of a Premier League club.
The way he’s running Newcastle United, where money is the only thing that matters – not the playing squad – is not what football is about.
Mike Ashley currently has just less than a 10% stake in Rangers FC, and he wants his £5M loan back and has also asked the Board why the club was delisted from the AIM stock exchange last month.
This is Ashley’s latest (chess) move, after he lost out in a power struggle to South Africa-based businessman Dave King at an EGM in London in early March.
Last year a £2M loan from Ashley allowed the Billionaire to appoint two directors to the Rangers’ board, and in January a further £10M loan was agreed, but only £5M was made available at that time.
Ashley has asked for an Emergency General Meeting to be held, at which time he wants his £5M loan returned.
Maybe Mike Ashley is now starting to withdraw his interest in Rangers, which would be great news for the famous Scottish club, and maybe even some good news for Newcastle.
We could certainly do with some good news these days.