Mike Ashley linked with Rangers with retail deal also on the table - report

NEWCASTLE and Sports Direct owner Mike Ashley is in talks with Rangers over buying a ten per-cent stake in the club with a merchandise deal also under discussion, according to reports.

It is believed a deal between Ashley, whose sports retail firm is worth £1.2bn, and Rangers chief executive Charles Green could be achieved this week.

Under previous owner Sir David Murray the club sold ten years of retail rights to sportswear firm JJB in 2006 for £48m.

Rangers fell into liquidation in June this year after failing to reach a deal with creditors.

It is believed that the new company, which bought Rangers assets for £.5.5m, is not tied to the agreement struck between the sold club and JJB meaning that talks with an alternative retail partner can progress.

Charles Green has come under growing pressure from supporters and footballing authorities to reveal how he plans to finance the club and who his backers are.

Confirmed members of Green’s consortium include Nottingham-based businessman Chris Mather, Indonesian businessman Jude Allen and Middle Eastern lawyer Mazen Houssami.

Mike Ashley gained control of Newcastle United in 2007 after spending £134m to achieve 100 per cent ownership.

The 48 year-old has had a turbulent relationship with the club’s supporters having put the club on the market in 2008 following protests at the departure of manager Kevin Keegan.

Ashley subsequently removed Newcastle from the market a year later after failing to find a buyer.

Both Rangers and a spokesman for Mike Ashley both refused to comment.