Will Ashley Dump Newcastle For Rangers?

Last updated : 27 March 2014 By Footy Mad - Editor

I was talking to a guy at Newcastle before the Everton fixture on Tuesday night who knows Ashley, and he claims: "It's like a bad marriage - they (the fans) don't like him, and if we are honest, he doesn't like them either.

"There was a time when he tried to give the supporters what they wanted, Kevin Keegan for example, but I don't think he cares anymore.

"He uses Newcastle to push Sports Direct, and that is about it. He has no ambirion for them to win anything, because that would cost major money, he's happy to use St James' Park as a billboard.

"But he could win things in Scotland for a fraction of the money, and push Sports Direct there."

The Rangers connection has been there for some time because he has the maximum percentage he is allowed (8% of the club) because he already owns another club.

He could sell Newcastle and buy Rangers, and that is a possibility, but not while they are haemorrhaging money.

Rangers have reported a pre-tax loss of £3.5m for the seven months to December 31, 2013.

The figure is almost a 50 per cent improvement for the same period the year before when £7.2m losses were posted.

Revenue at the League One champions was up by 38 per cent to £13.2m from £9.5m, operating expenses remained almost identical at £16.8m from £16.6m while cash reserves stand at £3.5m, down from £21.2m for the same period in 2012.

In a statement on the club's website, chief executive Graham Wallace said: "I am encouraged with the improved trading performance for the period under review which shows growth over the prior year.

"However, we continue to deal with the impact of the previous short-term focus on managing the business, in particular the management of cash and resulting cash outflows since the IPO.

"We have recently addressed the short-term working capital requirements of the Club and will continue to address the longer term financing needs as part of the wider review of the business.

"There remain many legacy issues that require resolution and many challenges ahead, however I am pleased to report that we are making good progress in repositioning the club and business to be capable once again of challenging at the top levels of domestic and European competition.

"With the continued support from Rangers shareholders and supporters together with a strong sustainable business plan, we are putting in place the foundations for a period of long term success and financial stability."