Ashley Ends Ties With Rangers

Last updated : 23 June 2017 By Footy Mad - Editor

Rangers fans will be delighted to hear reports that Mike Ashley is set to sell his shares in the Scottish club, a move which will see the Ibrox club earn an extra £5 million a year.

Image result for Newcastle United Mike Ashley

The Sports Direct and Newcastle United owner has torn up a toxic retail contract which gave Gers just seven pence of every pound spent on club merchandise.

With new boss Pedro Caixinha bringing in a number of new players already this summer transfer window, the extra income could help him strengthen his squad.

That is something which Light Blues fans will be happy about as they finished third in their first season back in the Scottish Premiership – and a massive 39 points behind champions Celtic.

The club’s chairman Dave King could not give a definite answer on the sale of Ashley’s shares, but admitted the main reason he had his 8.92 per-cent stake in Rangers was due to the retail contract which has now been scrapped.

“I can’t talk about it but I would expect an announcement on that soon,” King told the Daily Mail.

“Mike Ashley’s shareholding in the club was linked to an integrated retail deal.

“So I would imagine he is probably less interested in the need to have a shareholding in the club at this point in time.”

He also expressed relief at the new deal, as Ashley is the only obstacle in the way of Gers claiming the rights to their merchandise sales.

With top-flight status restored and extra income at the club, can Rangers challenge their rivals and return to Champions League football?