Murray: “Ashley can still appoint directors”
Paul Murray has confirmed,
contrary to previous reports, that Mike Ashley has retained the rights to
appoint two directors to the PLC board.
contrary to previous reports, that Mike Ashley has retained the rights to
appoint two directors to the PLC board.
It had been believed that the
aforementioned rights had expired with Rangers’ rejection of the second tranche
of the Sports Direct loan, but interim chairman Murray has verified that is not the case:
aforementioned rights had expired with Rangers’ rejection of the second tranche
of the Sports Direct loan, but interim chairman Murray has verified that is not the case:
“He does, yes (have the right). We’re
talking about the main public company at Rangers International Football Club.
He has got the rights under the agreement of the first five million loan to do
it.”
talking about the main public company at Rangers International Football Club.
He has got the rights under the agreement of the first five million loan to do
it.”
It was previously understood that
the rights only applied to the first tranche, but their retention will be a
worrying state of affairs for Rangers fans.
the rights only applied to the first tranche, but their retention will be a
worrying state of affairs for Rangers fans.
However, Murray did add that Ashley, as yet, has not
yet indicated a desire to take engage the right:
yet indicated a desire to take engage the right:
“He’s shown no intention of doing it so far but
he’s obviously got the right to do it if he wants to and we’ll have to address
that if and when he chooses to do that.”
he’s obviously got the right to do it if he wants to and we’ll have to address
that if and when he chooses to do that.”
Mike Ashley still retains a
worrying level of control at Ibrox. While his henchmen have been ousted, his
own clout is exactly as it was, and he can easily replace them if he so
desires, plus his own seizing of Rangers’ Retail is a gigantic coup in his
favour, and it ties the new board’s hands more than should be acceptable.
worrying level of control at Ibrox. While his henchmen have been ousted, his
own clout is exactly as it was, and he can easily replace them if he so
desires, plus his own seizing of Rangers’ Retail is a gigantic coup in his
favour, and it ties the new board’s hands more than should be acceptable.