Mike Ashley wins control of Glasgow Rangers

Mike Ashley ‘wins control of Rangers’ after Brian Kennedy bid fails

• Newcastle owner understood to have had offer accepted
• Sale Sharks owner Brian Kennedy’s late bid rejected



Mike Ashley has won the battle for control of Rangers after the Ibrox board rejected an 11th-hour offer from the Sale Sharks owner Brian Kennedy, the Press Association understands.

The Newcastle United owner – who already has an 8.92% stake in the club – will now strengthen his grip on the Light Blues boardroom after his £2m offer was reportedly accepted by the club’s directors on Saturday morning.

Kennedy, a member of the Blue Knights consortium that failed to stop the club from sinking into liquidation in the summer of 2012, had made a last-minute £3m counter offer but the cash-strapped Ibrox club have decided to put their faith in Ashley.

This latest development now leaves chief executive Graham Wallace’s position in grave doubt. The former Manchester City chief operating officer had been pushing for a £16m rescue package being put forward by the former oldco director Dave King.

That put him in direct opposition with football board chairman Sandy Easdale – who controls a significant 26% stake in the club through shares and proxies – after the McGill’s Buses owner pushed ahead with attempts to involve Ashley.

The Sports Direct tycoon had already struck a deal to run Rangers’ retail division and bought naming rights to the stadium from the former chief executive Charles Green for just £1. Earlier this month Ashley also called an emergency shareholder meeting to vote off Wallace and the finance director Philip Nash.

But when those talks with King broke down earlier this week, Nash decided to resign.

Ashley has already announced he will not sell Newcastle until the end of next season at the earliest and he is prevented from owning more than 10% of Rangers by a deal struck with the Scottish Football Association.

However, a source close to the billionaire told PA that he was keen to increase his involvement with the Glasgow club. The source said: “Rangers are in serious financial difficulty and require his immediate financial help.”