Ashley loan comes with conditions

Mike Ashley is prepared to lend Rangers £10m, but his offer comes with conditions that are unacceptable to Rangers fans.   The Union of Fans umbrella group has asked for a demonstration and boycott at tonight’s match against Hearts in response.

Mike Ashley is prepared to lend Rangers £10m, but his offer comes with conditions that are unacceptable to Rangers fans.   The Union of Fans umbrella group has asked for a demonstration and boycott at tonight’s match against Hearts in response.

Mr Ashley wants security on the Ibrox stadium and the Murray Park training ground.   In the past the board has said that Ibrox would never be offered as security and indeed earlier loan offers have been turned down on that basis.   He also wants two seats on the board for his associates.

The Three Bears consortium have made an offer of a loan of £5m, secured against Murray Park, but that is deemed insuffficient by the club to meet its pressing financial needs with an earlier £3m loan by Ashley due to be paid back.   However, the consortium has now said that it will increase its offer.  Rangers need a cash injection by the end of the month.

Leave a Comment