Ashley doubles Rangers stake

Newcastle United owner Mike Ashley has more than doubled his stake in Rangers to hold just under 9 per cent of the shares.  The maximum stake he is permitted to hold under an agreement he concluded with the Scottish football authorities is ten per cent.

Newcastle United owner Mike Ashley has more than doubled his stake in Rangers to hold just under 9 per cent of the shares.  The maximum stake he is permitted to hold under an agreement he concluded with the Scottish football authorities is ten per cent.

Ashley already holds the naming rights to Ibrox.  Last month Rangers fans threatened a boycott of Ashley’s stores after it was revealed how he had been handed the naming rights for Ibrox Stadium for just a pound in a secret deal with former chief executive Charles Green.   Supporters were also angered by the news that his Sports Direct firm was in control of the club’s retail stores.

Ashley has said that he will not sell Newcastle United until the end of next season, but their poor start to the season may influence his longer term thinking.

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