Mike Ashley is understood to have stepped down from the board of Rangers Retail raising hopes the billionaire may be poised to loosen his grip over the merchandising arm of the Ibrox club.
It is understood that Mr Ashley, the owner of Sports Direct, and the firm's chief executive, David Forsey, tendered their resignations from Rangers Retail Limited, on Friday.
The move comes amid attempts to hold a Rangers Retail board meeting where it was expected challenging questions would be asked about the merchandising deal which means only 4p from every pound spent in the Ibrox store is banked by the Old Firm outfit.
It is not immediately clear whether Sports Direct will replace Ashley and Forsey on the Rangers Retail board.
It is understood that new Rangers strips cannot be sold because of Rangers' move to terminate the merchandising contracts.
Club chairman Dave King has tried on several occasions to renegotiate the retail deal but the club has previously indicated that he has been rebuffed at every turn by Ashley.
But it was thought that Ashley may be forced to ease his control of the Rangers' commercial activities following Newcastle's relegation to the Sky Bet Championship as the governing body, the Football League operates stricter rules on dual ownership than in the English Premier League.
The club has already triggered a seven-year notice period required to cancel all contractual ties with Sports Direct.
The Rangers Retail set up has been a long-lasting area of controversy and at the end of 2014 the Rangers Supporters Trust launched an alternative shirt for fans as they took on Mr Ashley - and said all profits would be ploughed back into an increased shareholding in their club.
http://www.eveningtimes.co.uk/news/14540237.Mike_Ashley_s__humiliation__as_he_steps_down_from_Rangers__retail_board/
Ashley
posted on 7/6/16
Cause they called his bluff seemingly
posted on 7/6/16
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posted on 7/6/16
sad to say it for Newcastle fans but them getting relegated has really changed things for Rangers.
posted on 7/6/16
Newcastle fans need to send a message to Ashley and the only way is by boycotting merchandise and showing their disgust at games. They fill the stadium every week wearing new shirts, then complain about Ashley ! Daft !!
posted on 7/6/16
I wouldn't read too much into Ashley resigning from Rangers Retail.
I personally think all it does is lessens the whole "dual ownership" bit, less fuel for the fire.
I do not see it as a sign that Sports Direct will now just walk away, and that the retail deal will now be ripped up and binned, not a jot.
I think its simply Ashley himself cutting his own personal ties with Rangers, seeing as he and not Sports Direct, own Newcastle.
posted on 7/6/16
To be fair at Newcastle this season he gave the manager plenty of money. For some reason none of it was spent on defender's.
With benitez in charge I think the money will be better spent
posted on 7/6/16
He doesn't "give" the manager a penny ! He loans the club the money and it is added to the debts which now exceed 150m ! He isn't a benefactor !
posted on 7/6/16
I thought most of you said that loans were the same thing though?
posted on 7/6/16
Whit ? Ashley's annual "investment" are just straight loans ...but I suspect you know that !
posted on 7/6/16
Yes.
Straight loans as I've always said.
It's others who see it as pure investment.