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Rangers Chairman – No More Loans From Mike Ashley

Rangers interim chairman Paul Murray has said that the Board have to have talks with Newcastle owner Mike Ashley soon, and one reason for that is one of the agreements of the £5M loan Rangers got from the English  Billionaire was that he could appoint two members to the Rangers Board.

Paul Murray – Rangers Chairman

Since Dave King took control of Rangers a couple of weeks ago, his people have been going over the books of the Scottish club, and Murray says there’s nothing there that has surprised him.

This is what Paul has said today on Rangers TV:

“The view of the board at the moment is that we can pursue our own funding solution without having to go back to Sports Direct.”

“We have had no discussions with Sports Direct or Mike Ashley so far, but we are happy to engage with Sports Direct and I think we should engage with them.”

“They are a 9%  shareholder with the club and have got commercial arrangements with the club and I think we have to have that conversation pretty soon.”

“We will be in a position very shortly to sit down with Sports Direct and Mike Ashley and try and agree a way forward.”

“Under the first £5 M loan he has got rights to appoint two directors. We will have to address that as and when he decides to do that.”

“It is normal for any loan to have security, but we don’t want to put the club in any danger and if there is an issue with any of those securities at any time then we will deal with it.”

“The fans should have no fears. We are not going to do anything that will endanger those assets of the club.”

Murray said that EGM (Emergency General Meeting) in London just over two weeks ago had cost the club £300K, and that they continued to pay for all five Newcastle United loan players – £5K/week is the general figure quoted.

And Murray also confirmed that Rangers agreed an interest-free £1.5M with The Three Bears consortium, and would not accept a second £5M loan from Ashley.

It seems that Mike Ashley will have only limited influence at Rangers from now on, following the takeover by Dave King.

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10 comments so far

  • jesperfuglsang - capt'n awesome of the lemon crew

    Mar 28, 2015 at 8:59 AM

    Comment #1

    Jeff…that last article by Ed was was completely bogus!

    …I will not even mention it again that’s how bad it was.

    Ian…nice of you to join us! Should we go back in time a bit or should I just go fetch that translation you pulled out of google translate and claimed a Danish colleague of yours wrote?

    It was not just grammatically incorrect but contained words when you look them up are the same but the meaning is entirely different. A mistake a Dane would not make (not even a toddler)

    You are not going to admit to the white lie? (not talking about whether you have a Danish ‘friend’ or not)

  • Jeff from Benwell

    Mar 28, 2015 at 9:00 AM

    Comment #2
  • Jail for Ashley

    Mar 28, 2015 at 9:05 AM

    Comment #3

    For non Geordies and multiple posting fantasists.

  • jesperfuglsang - capt'n awesome of the lemon crew

    Mar 28, 2015 at 9:06 AM

    Comment #4

    Ed…I am going rephrase this everytime you choose to convert this Newcastle blog into an extended arm of Rangers!

    …I don’t really care about Rangers! Never have his involvement impacted Newcastle and nor will it ever.

    Should that day come then print a story about it!

  • Sav

    Mar 28, 2015 at 9:42 AM

    Comment #5

    2 mongrels scrapping over a bone. Still, it does appear Rangers have put a ditch where their lawn used to be and invested heavily in anti-tank ordnance.

  • Jeff from Benwell

    Mar 28, 2015 at 10:10 AM

    Comment #6
  • lochinvar

    Mar 28, 2015 at 12:05 PM

    Comment #7

    Murray recognises that Ashley can still appoint 2 Directors to the Rangers Board because of his loan ? Ashley also owns various parts of Rangers assets and has commercial rights as well . Murray will have to talk to Ashley who probably still has them by the soft fleshy bits.
    Could be a longer running saga than Gone with the Wind.

  • Moonraker15

    Mar 28, 2015 at 9:45 PM

    Comment #8


    I agree, forget Rangers please !

  • Moonraker15

    Mar 28, 2015 at 9:46 PM

    Comment #9


    I agree, forget Rangers please !

  • Jail for Ashley

    Oct 30, 2018 at 5:17 PM

    Comment #10

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