Mike Ashley could be forced to sell Rangers shares - reports

Mike Ashley could be forced to sell his shares in Rangers if Newcastle United are relegated from the English Premier League at the end of this season, according to reports.
By The Newsroom
Published 22nd Mar 2016, 11:19 BST
Updated 22nd Mar 2016, 11:53 BST

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Mike Ashley owns a 8.92 per cent stake in Rangers. Picture: PAMike Ashley owns a 8.92 per cent stake in Rangers. Picture: PA
Mike Ashley owns a 8.92 per cent stake in Rangers. Picture: PA

The Magpies, owned by the Sports Direct tycoon, currently sit in 19th position and are favourites for the drop having won none of their last five matches.

Ashley’s board recently sacked manager Steve McClaren, replacing him with former Liverpool and Real Madrid boss Rafa Benitez.

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Should Newcastle drop into the second tier, they will have to comply with the rules set down by the English Football League, which has tighter restrictions on dual interest.

Owners can have no more than a 10 per cent stake in another football club. Ashley falls short of this threshold with regards to Rangers, holding only 8.92 per cent, though his commercial dealings with the club, along with his hold over the previous Ibrox board regime, may convince the Football League to act.

Ashley recently said he was “wedded” to Newcastle and wouldn’t wish to leave the club in the event of relegation.

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Related topics:Mike AshleyEnglish Football LeagueNewcastle UnitedSteve McClarenRangersRafa BenitezPremier LeagueMagpies