ian1964 10,720 Posted January 15, 2015 Share Posted January 15, 2015 Mike Ashley posts intent to take out security over Rangers' Ibrox Stadium By Grant Russell Mike Ashley has posted notice of his intention to take out security over Rangers' Ibrox Stadium. Documents seen by STV show that Sports Direct have filed their intent to add their name to the title deeds of the ground. Ashley has 35 days to complete the application but the lodging of documents indicates the owner of Newcastle United could be set to provide a secured loan to Rangers to provide badly-needed cash. Rangers have stated they currently do not have enough cash to trade until the end of January. Ashley notice of intent does not guarantee he will be the one to provide funding to the club but the move is significant for two reasons. Firstly no other party has previously been able to secure a loan against Ibrox because of a contingent liability listed in the club's accounts. The liability relates to a case brought by Craig Whyte, who claims he is the legal owner of the asset. Secondly the move by Ashley means that should any other party step up to provide funding to the club, they would not be able to secure their loan against Ibrox as the document lodged by Ashley takes precedence. The notice of intent would first have to expire before a security could be lodged. The Newcastle United owner - who has an 8.92% stake in the club - strengthened his grip on the Light Blues boardroom in October last year after his £2m loan offer was accepted by the club's directors. It strengthened Ashley’s position after the board opted for his offer over that of Sale Sharks owner Brian Kennedy - a member of the Blue Knights consortium which failed to stop the club from sinking into liquidation in the summer of 2012 - who had made a last-gasp £3m counter offer but the cash-strapped Ibrox outfit looks to have put its faith in Mr Ashley. Then in November, Mike Ashley increased his initial £2m emergency loan to Rangers by a further £1m. The board has accepted the additional credit facility by Mr Ashley's personal investment company MASH Holdings. Ashley's deal raised questions from the Scottish FA over his influence at Ibrox. As owner of Newcastle United, he is restricted to a maximum shareholding in Rangers of 10%. He was then refused permission by the governing body to increase his shareholding in Rangers on Christmas Eve. Rangers had applied for consent to increase his maximum shareholding to 29.9 per cent, but that application was been rejected by the Scottish FA board. http://sport.stv.tv/football/clubs/rangers/306606-mike-ashley-posts-intent-to-take-out-security-over-rangers-ibrox-stadium/ 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted January 15, 2015 Share Posted January 15, 2015 I said Ashley would not walk away without a fight. I knew he would pull another rabbit out of the hat. Cunt is all I can say. Any Rangers supporter that buy's one thing from sports direct is crazy. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,720 Posted January 15, 2015 Share Posted January 15, 2015 Chris Graham @ChrisGraham76 · 5m 5 minutes ago @grant_mckay We'll be speaking to shareholders to see what legal remedies there are. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted January 15, 2015 Share Posted January 15, 2015 Chris Graham has the condescending prick routine down to a fine art. The RST have helped to fund the regime through purchasing shares. People in glass houses. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,720 Posted January 15, 2015 Share Posted January 15, 2015 Chris Graham @ChrisGraham76 · 14s 14 seconds ago Don't sit back and think you can't do anything. You can. It needs money and numbers. We'll try to block this. http://www.therst.co.uk/BuyRangers #ibrox 0 replies 0 retweets 0 favorites 0 Quote Link to post Share on other sites More sharing options...
MoodyBlue 0 Posted January 15, 2015 Share Posted January 15, 2015 Chris Graham has the condescending prick routine down to a fine art. The RST have helped to fund the regime through purchasing shares. People in glass houses. bang out of order !! 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted January 15, 2015 Share Posted January 15, 2015 bang out of order !! It's bang on the money. 0 Quote Link to post Share on other sites More sharing options...
MoodyBlue 0 Posted January 15, 2015 Share Posted January 15, 2015 It's bang on the money. aye - in your opinion !!! 0 Quote Link to post Share on other sites More sharing options...
andy steel 0 Posted January 15, 2015 Share Posted January 15, 2015 Chris Graham has the condescending prick routine down to a fine art. The RST have helped to fund the regime through purchasing shares. People in glass houses. Yep, that's what important at this moment, right enough. 0 Quote Link to post Share on other sites More sharing options...
Rangersitis 0 Posted January 15, 2015 Share Posted January 15, 2015 aye - in your opinion !!! I only speak for myself. My eighteen months of moaning on the internet has done as much good as the campaigning that he talks about. Once they had their claws in, they were always going to leave with everything, it was only the timescale and the amount of cash that they could bring in that were undecided. 0 Quote Link to post Share on other sites More sharing options...
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