RANGERS will move to remove Mike Ashley’s voting powers at the annual general meeting later this month, according to The Herald.
The board of directors are putting forward a resolution that, if passed, would remove the voting rights of a shareholder who also owns an interest in the running of another football club, as Ashley has with Newcastle United.
This move would safeguard the club from any future punishment from the SFA, who dished out a fine of £7500 to Rangers for Ashley’s breach of dual ownership rules. Ashley current holds a 8.92 per cent stake.
It would also be a major victory for Dave King and the board a week after Ashley made a power play by installing himself as a director of Rangers Retail.
The Sports Direct tycoon already enjoyed control of the retail division, which owns the club’s crests and merchandise. He now enjoys a three to two advantage over King at the boardroom level.
Ashley previously enjoyed major influence at the club through having allies such as Derek Llambias and Barry Leach on the board. They were removed at an extraordinary general meeting where King took control.
The latest move by the Rangers board would look to remove Ashley’s voting rights, including on corporate policy, investment and boardroom members.