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 | | Rangers accepted a loan from Mike Ashley28.10.2014 |
The management of Glasgow Rangers accepted a loan of two million liras from owner Mike Ashley of Newcastle. 54-time champion of Scotland urgently needs additional funding after the accounts for the last six months of 2013 showed a loss of 3.5 million liras.
The condition of the billionaire to give loan, however, is to appoint his own people in the club. For this reason, former CEO Graham Wallace resigned. In addition to his place, Ashley will be able to put a person's position and chairman of the board of directors, which is vacant after the departure of Philip Nash on Friday. Mike Ashley has a 8.9% share in the Scottish giants, but after the loan influence in the club will grow.
Billionaire however, has an agreement with the Scottish Football Association, according to which has no right to hold more than 10% of the Rangers, as the owner of the English Newcastle.
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