Ashley doubles Rangers stake
Fri, 3rd October 2014

Ashley doubles Rangers stake

By Matthew Ord, Digital Staff Writer

Newcastle United owner Mike Ashley has more than doubled his stake in Rangers, only a few weeks after denying he would up his stake.

Ashley's MASH Holdings Ltd purchased 4,265,000 shares for £850,000, which took his stake in the club from 4.5 per cent to 8.92 per cent.

Ashley is now the second largest stakeholder in Rangers International Football Club behind Laxey Partners, which holds 16 per cent.

Investment company Hargreave Hale this week confirmed they had sold more than four million Rangers shares, but would not say who the buyer was.

It was also recently revealed that Ashley had bought the rights to rename Rangers' Ibrox Stadium for just £1 after agreeing a deal with the club's former chief executive Charles Green.

category North East  |  source Insider Media