Rangers FC needs Cash Immediately

The Scottish side Rangers FC is in desperate need of a cash injection and this is why the owner of Newcastle United Mike Ashley has recently been providing the team with loans, however Ashley is believed to be interested in taking full control and ownership of the Scottish team, reports are going on stating that Ashley is prepared to sell Newcastle United in order to make an official bid for Rangers.

For the past 2 years Mike Ashley has been attempting to sell Newcastle United but has not managed to find a concrete offer or buyer for the Premier League club.

Mike Ashley owns around 9% stake in Rangers FC but he wants to have total control in the club, this task has now turned even more difficult for Ashley after the former director of Rangers Dave King acquired around 14% stake of the Scottish side which was made at the beginning of 2015 in the 2nd of January.

This acquisition is similar to the one which occurred on New Year’s Eve when Douglas Park, George Letham and George Taylor who all are shareholders of Rangers together bough 16.33% of the club.

In other words, Dave King’s recent purchase means that Mike Ashley and all of his allies are going to be dealing with a rivalry that is just as potent as their own.

The Newcastle United owner, Mike Ashley has already seen some of his ownership plans being halted after he was denied permission to increase his shareholding in the club as he wanted it to be increased beyond the 8.92% which he is currently possessing.

Rangers FC launched a statement through the Stock Exchange which confirmed that they were in need of fresh funding by the end of the current month, January but considering all of the power struggles and everything in the inner workings of the club which is going on, it can take some time for the club to resolve some of their problems especially the financial ones.