The mention of Mike Ashley’s name is likely to bring a chorus of boos from the floor at the Rangers AGM today (Tuesday), according to the Daily Record.
The newspaper’s live blog of the shareholder’s meeting (Tuesday, 9.15am) claim the SEC Armadillo down by the Clydeside is set to erupt in united disapproval when discussion turns to the club’s kit deal with Sports Direct.
Former Ibrox shareholder Ashley tried to buy the club after acquiring a minority stake in the Light Blues in October 2014 but his attempts to increase to the 30 per cent threshold was rejected by the Scottish Football Association because of his ownership of Newcastle United.
OPINION
Rangers’ recently published financial results show the club are running at a loss – £14.3million, in fact, for the 12 months until the end of June – and many revenue streams are already exhausted. The Glasgow club have thrown money – £3million, to be precise – at their attempts to be freed from the clutches of Sports Direct tycoon Ashley and the long-running saga is still not over yet. ‘Rangers bogeyman’, as the Record dub him, is the very least of it. By comparison, Peter Lawwell and Brendan Rodgers would be welcome to the AGM today with open arms. Dave King and the board will be quizzed today how the club intend to start making money, to stem the losses. Making real progress in Europe is one way and that goes beyond qualifying for the Europa League group stages, as the team have done this season. Genuine progress in the knockout stages will help get Rangers on a self-sustainable footing, and it is telling that Alfredo Morelos was rested from the starting XI last weekend to save him for Thursday’s showdown against Villarreal.