Mike Ashley goes to WAR with the Rangers board and demands: Give me my £5m loan back NOW
NEWCASTLE owner also requests ANOTHER general meeting and asks for a full explanation into stock market delisting as he issues Ibrox chiefs with an ultimatum.
MIKE ASHLEY has turned his guns on the new Rangers regime by requisitioning a general meeting and asking for his £5m loan to be repaid in full.
Record Sport can reveal the Sports Direct tycoon made the highly aggressive move one week AFTER the Ibrox club’s interim chairman Paul Murray and director John Gilligan travelled south to open ‘peace talks’ at his Shirebrook HQ in Derbyshire - but five days BEFORE cops raided the premises as part of a probe into the commercial activities of former owners Craig Whyte and Charles Green.
In the letter, which is dated April 29, Ashley demands to know the ‘precise details’ surrounding the recent delisting of the club from the AIM Stock Exchange, a move which was triggered when Dave King teamed up with other high profile shareholders to successfully remove Derek Llambias and Derek Leach from the boardroom.
He also proposes resolutions which if voted through, would force the new regime to hand back a £5 million crisis loan which was agreed between Ashley, Llambias and Leach in January.
In exchange for the cash Ashley will hand back security over all the Rangers crests and badges, the club’s Murray Park training ground and Albion Street car park and the Edmiston House facility.
Record Sport can also reveal that Ashley had a negative security clause written into the deal struck with the previous board, which means Rangers cannot use security of Ibrox stadium in order to raise funds with any third parties.
The letter was sent two weeks ago, but Ashley has been complaining that he is still awaiting a response.
A source close to Ashley said last night: “This is a message to Dave King and his associates to put up or shut up. The board and the fans own more than half of the Rangers shares, so they have the power to vote this through - if they have the money.
“All they have to do is find the £5 million that he gave them in January and he will release security on the various brands, Murray Park, the car park and Edmiston House.
The GASL's kids were dreading this day
An absolute cracker.
in which league they will be playing next season and a complete overhaul of the football department at Murray Park is on the cards over the summer, no matter what.