Mike Ashley

[Lofty.]

Reports have emerged that Mike Ashley is scheming to become Rangers' biggest shareholders. He already owns 7% of the club's shares, but there are "suspicions" that he has managed to acquire a considerably higher amount of shares via various clandestine means. The club are also rumoured tto have approached Ashley.

 

However much of the above is actually true, the entire situation sounds as dodgy as f**k.

 

From the Guardian:

Rangers fans voice concern over reported Mike Ashley investment
• Newcastle United owner said to have been approached
• Union of Fans ‘question wisdom’ of club’s move

Rangers fans’ groups have expressed concern over the board’s reported attempts to get the Newcastle owner Mike Ashley to underwrite a £4m share issue.

Ashley already owns about 7% of the club’s shares and the Union of Fans, an umbrella group of Rangers supporters’ representatives, has demanded assurances over dual ownership complications.

Rangers announced earlier this month that they were seeking support from institutional investors to underwrite a possible equity issue.

A Union of Fans statement read: “We believe the SFA have been approached to find out what would be required to give clearance for this, due to Mr Ashley’s ownership of Newcastle United.

“We would question the wisdom of approaching someone who, despite his obvious wealth, cannot significantly invest in the club without removing himself from his ownership position at Newcastle.â€

The statement added: “We are also concerned that, under Uefa regulations on dual ownership of clubs, Mr Ashley cannot have a ’decisive influence over decision making’ at Rangers without it leading to the possibility of us not being able to compete in European competition.

“He could find himself holding around 20% of the shares in our club, having control of all club merchandise and being the largest single shareholder if he underwrites this share issue.

“Will the board clear this unequivocally, and in advance, with Uefa to ensure that Rangers will not miss out on European football in the future because of Mr Ashley’s ownership of Newcastle?

“Finally, Mr Ashley’s initial purchase of shares in Rangers appears to have been linked to his Sports Direct merchandise deal. The only man inside Rangers who liked that deal at the time it was put in place was [the former chief executive] Charles Green.

“We hope that any possible assistance given to the board by Mr Ashley at this time will not see him clinch another favourable deal, perhaps to rename Ibrox at a knock down price.â€
 

[moi]

Forgive my ignorance, Tommy, but I have no idea who Mike Ashley is.  Should I have heard of him, or is he one of these shadowy figures who lurks in the background?

 

P.S. I've just googled him!  Hmm, he can stay South of the border (preferably down Mexico way!)

Edited August 20, 2014 by moi

[Stim]

edit: google knows more than me 

Edited August 20, 2014 by Stim

[ForeverCarefree]

Would it be a bad thing for Rangers if Ashley did become a majority share holder?

I know Newcastle haven't set the Premier league on fire under his ownership but he has bought a weird kind of stability there.

[Lofty.]

I'm not so sure about that.It's a little difficult to equate stability with the prospect of dual ownership. Not to mention the spectre of Charles Green, the embarrassingly bad smell that simply won't go away.

 

Call me cynical by all means, but I strongly suspect is that this little scenario has far more to do with marketing than with Mike Ashley having Rangers' best interests at heart.

[moi]

I'm not so sure about that.It's a little difficult to equate stability with the prospect of dual ownership. Not to mention the spectre of Charles Green, the embarrassingly bad smell that simply won't go away.

 

Call me cynical by all means, but I strongly suspect is that this little scenario has far more to do with marketing than with Mike Ashley having Rangers' best interests at heart.

 

 

You're a cynical old git, but I agree with you, so I must be one too!!

 

Like the new avatar!!

[mad_mac]

Very strange rumour, but maybe he sees them as a good investment, and something with potential.  Which isn't necessarily a bad thing

[Lofty.]

According to the Mirror:

 

Newcastle United owner Mike Ashley will only buy Scottish giants Rangers if he sells Magpies

Mike Ashley will only buy Scottish giants Rangers IF he sells Newcastle United.

The mega-rich Toon owner has increased his stake in the Glasgow club – as Sunday People Sport first revealed – but he is not looking to take over yet.

Ashley has strengthened his link with the Ibrox outfit after his initial investment and has gone as far as he can – or wants to – until he has a buyer for the Geordies.

The 49-year-old believes the Gers are a huge project and would buy them if he can focus on it entirely.

But right now, Newcastle is taking up all of his time.

Sports Direct supremo Ashley is open to selling the Magpies, but the asking price has put off all buyers so far.

However, his exit plan would include a full-time move to Ibrox.

The SFA have told Ashley he cannot have a major stake in Rangers while he is still in control at the Toon.

This is the case despite many owners having clubs in England and abroad.

Ashley could challenge that ruling, but he intends to wait until the time is right to make a complete plunge.

 

The same page includes a poll asking Newcastle fans whether or not they want Mike Ashley to leave their club.

 

Current standings:

YES 78%

NO  22%

 

 

 

[mad_mac]

I've seen a bit about this.  Interesting.

 

Wonder if he'll buy a share that's not a Majority?  Not sure what his intentions are here, but I think Rangers need to be a little careful given what's happened in the past with them.

 

Also, why can't he own both?  It's not like they are in the same league.  Isn't Roman majority owner of a couple other clubs in Europe too?

[erskblue]

Rangers seem to go from one boardroom crisis to another.

[carrickblue]

£1- if that's true it's an absolute disgrace

[MissouriBlue]

Maybe he can get Joe F*ckin Kinnear to help him run things, that guy has his finger on the pulse.....right?

[shedpensioner]

I moved up to the North East a few months back, you wouldn't believe how much the Geordies hate Ashley.

He's the worst kind of owner, purely in it for profit.

[moi]

I moved up to the North East a few months back, you wouldn't believe how much the Geordies hate Ashley.

He's the worst kind of owner, purely in it for profit.

 

 

Another good reason for him not to move to Glasgow!

[Boyne]

Daily Mirror interview with Mike Ashley. He's not very informative. Doesn't bode well if he has a greater involvement at Ibrox

 

http://www.mirror.co.uk/sport/football/news/mike-ashley-qa-read-full-4199070

[erskblue]

I am sick of the chancers and spivs who want to make money out of Rangers at the moment.

 

Get out and don't come back :mad:

[Lofty.]

The club have issued the following Notice under Section 303 of the Companies Act 2006


The Company announces that it has received a notice dated 7 October 2014 from Mike Ashley, a director of MASH Holdings Limited ("MASH") under Section 303 of the Companies Act 2006

The notice states that MASH holds 4,265,000 Ordinary Shares of 1p each in the Company amounting to 5% of the voting rights of the Company.

MASH requires the Company to call a general meeting of the Shareholders of the Company and to put certain resolutions to Shareholders for inclusion in the business at such a general meeting of the Company (the "Notice").

The Notice puts forward resolutions for the removal of Graham Wallace and Philip Nash as directors of the Company. The Company is currently verifying that the Notice is properly constituted.

If valid, the Board intends to seek to have such Notice withdrawn in order to avoid the cost and disruption of an ad hoc general meeting particularly given the Company's forthcoming Annual General Meeting, further details of which will be announced in due course. The Board is united in its support of the executive team.

If the Notice is valid and is not withdrawn, the Directors intend to recommend that Shareholders vote against the proposed resolutions.  A further announcement will be made shortly.

 

 

With his 5% worth of declared shares, Mike Ashley is now attempting to have members of the current board removed; this looks horribly like the beginning of Mike Ashley making his move, maybe intending to replace those two directors with his own men, or with the intention of taking up one of those two places himself, perhaps.

[Boyne]

Will be interesting to see what happens with Ashley. Just wish the whole fiasco was sorted out. Occasionally look on the Rangers forum Follow Follow and the fans who post there are thoroughly fed-up.

 

Criag Whyte, the former Rangers owner faces 28 days in jail for non-attendance at High Court hearings in London. I would jail him for a lot longer.

 

http://www1.skysports.com/football/news/11788/9509100?

 

Craig Whyte (left): Former Rangers owner

Former Rangers owner Craig Whyte risks up to 28 days in prison after failing to attend a number of High Court hearings in London.

 

Loading Market ...

A judge has ruled that Whyte "seeks to frustrate the court’s orders" in a case involving the finance company firm Ticketus, in which Whyte lost nearly £20m in damages last year.

A transcript of Mr Justice Arnold’s judgment, seen by Sky Sports News HQ, has revealed that solicitors representing Ticketus have repeatedly failed to establish contact with Whyte, calling and sending text messages to his last known mobile telephone number and leaving a voicemail message.

The judgment notes that Whyte’s "track record clearly indicates that he will evade any attempt at personal service."

Whyte was ordered to attend court on May 7 this year but failed to appear in person.

Mr Justice Arnold’s judgment notes: "He sent a letter to the court shortly before the hearing which purported to be sent from an address in Los Angeles in the United States of America. Enquiries have revealed that he had left that address prior to the date of sending the letter. The letter was sent by email from a particular email address."

Whyte was ordered to attend court again on July 16 this year, for examination, but failed to attend in person.

Mr Justice Arnold ruled: "It seems to me to be clear from the evidence that the first defendant (Whyte) has adopted a policy of evading service and failing to communicate with the claimants’ solicitors, and in those ways it appears he seeks to frustrate the court’s orders. It seems to me that the order should be for committal for 28 days suspended upon the usual basis."

The court judgment was made on September 29 at the High Court in London and an order was made to establish contact "first, care of his father, secondly, at his address for service on the court file, which is an address in Monaco, and thirdly, by text message to his mobile telephone number."

Whyte is understood to have been ordered to attend the next hearing or else face arrest.

Sky Sports News HQ has attempted to contact Whyte, on a telephone number previously used by him, but has yet to receive a reply.

[carrickblue]

Ashley would steer Rangers away from the financial instability of recent years.  He hasn't invested in Newcastle probably because what it would take to make Newcastle really competitive is more than he is willing to pay.  On the other hand, a relatively small investment in Rangers could secure consistent success in Scottish football and guarantee regular exposure in Europe.  It could be a good thing for Ashley and Rangers if he did take a controlling interest.    

[Lofty.]

Yesterday I read that Mike Ashley has assured the club that he has no intention of launching a takeover bid, or of increasing the level of his shares to more than 10%. We shall see. Meanwhile:

 

McCoist Welcomes Investment

ALLY McCOIST has welcomed Mike Ashley’s investment in the club in the form of a £2million loan through his company MASH Holdings Limited.

The Rangers manager has stressed for some time the importance of attracting extra finance with which the Light Blues can move forward.

MASH’s backing was announced to the London Stock Exchange this morning along with news Gers chief executive Graham Wallace has resigned from his position.

McCoist later spoke with PLC chairman David Somers and football board chairman Sandy Easdale about developments.

He has been told the reasons for accepting Ashley’s offer and believes the move is a positive step.

McCoist said: “It’s good news, of course it is. I’ve said all along the football club needs investment and we’ve got that.

“I have to tell you I spoke to David Somers this morning. I had a good 15 to 20 minutes with him and I spoke to Sandy Easdale as well.

“It was very decent of the two gentlemen to phone me and give me an update, which they have done.

“A lot of what was said will remain private but one thing I would say is both of them are very pleased and comfortable with the situation at the moment.

“The chairman (Somers) gave me an indication of why they’ve decided to take the investment from Mike.

“The board are happy with that. If they are happy with that, I as manager of the club have to be happy with that.

“Mike is a very astute businessman and he’s decided to support the club and invest in it. I’ve said all along we need investment. All going well, I’d think that would be very positive.

“Change is always a concern but I’ve been reassured this change is moving the club forward and that’s absolutely fantastic.â€