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.
You can follow us on our three social media sites below: