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Mike Ashley to Invest in Rangers


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http://www.heraldsco...angers.18397998

BILLIONAIRE Mike Ashley is in advanced talks with Rangers chief executive Charles Green about buying a stake of up to 10% in the club and forming a joint venture to sell its replica kit through his Sports Direct stores.

Sources told The Herald last night that a deal between Newcastle United owner Mr Ashley and Mr Green is expected to be completed within days.

Mr Green has been pressed repeatedly by Rangers fans to reveal details of his plans for financing the club's ongoing operations.

Mr Ashley, pictured, a controversial retail tycoon who has had a rollercoaster relationship with the City and Newcastle United fans, has deep pockets. His near-69% stake in Sports Direct, which has defied the economic downturn – as rivals including JJB Sports have struggled – is worth more than £1.2 billion.

Mr Green led a consortium that paid £5.5 million to buy the assets of Rangers – who last night beat East Fife 4-0 in the first round of the Scottish Communities League Cup – from liquidation in June.

One source said the price of a 10% stake in Rangers would be "like chicken feed" to Mr Ashley. In 2006, when Rangers was owned by Sir David Murray, JJB signed a £48 million deal to sell the Old Firm club's merchandise on an exclusive basis over the next 10 years.

Sources yesterday highlighted a belief that this contract would have lapsed with Rangers' fall into liquidation, ahead of Mr Green's purchase of its assets.

A spokesman for Mr Ashley refused to comment on his deal to buy into Rangers and a club spokesman said: "It is speculation and we will not comment on commercial matters."

But a source said: "Talks are at an advanced

stage and the deal should be signed in the next few days."

Sports Direct has been faring significantly better than JJB Sports in the cut-throat retail sector. The £1.7bn stock market worth of Sports Direct eclipses the £22m valuation of JJB.

A source familiar with Mr Ashley told The Herald: "Mike has a great business. He certainly knows what he is doing on the merchandising, on the logistics front, that is for sure. Mike will want to get JJB out of the way and pick up the merchandise. It gets him a seat at the table."

A spokesman for JJB Sports said: "We continue to work with the Rangers owners."

Wouldn't mind getting hold of their scouting network before this window closes 00000042.gif

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Putting 2 + 2 together, makes me wonder if whyte is involved here.

The rumour about ashley has been doing the rounds sinice last year.

Im sire there was even a thread about whyte and him meeting in a hotel up here before administration.

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Say what you what about Ashley but he is one shrewd businessman. He has Newcastle running the right way. Their scouting network is up there with the best in Europe. I read a great article on their scouting department. I'll see if I can dig it out!

I'm not sure Ashley can take credit for the scouting network but he can take credit for the way the club is run, he didn't do what the fans wanted (that's not always easy to take) but the business idea they've adopted makes perfect sense .

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He certainly has the money and it would be a big feather in Greens cap if he could get him on board.

I see we've already got someone putting bogeyman Whyte behind it :lol:

That sort of pish is getting real old.

Like real billionaires will be getting involved in Craig Whyte schemes <cr>

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From a business point of view it would be a good move from Ashley. Buy in when we're down, get us back where we belong and watch his share rise in value. Just make sure Ibrox and training ground are secure. He's been trying to offload Newcastle for ages and a buyer would free up a load of cash.

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I'd be quite happy to see some English/England-based investors invest in Rangers.

They would probably get more things done than the Scottish lot who have been dancing around the periphery and using silly black propaganda techniques to try to get hold of the club for a knock-down price. I feel little loyalty to these sorts.

Anyone who can get things done is the kind of person I want to see involved.

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I'm not sure Ashley can take credit for the scouting network but he can take credit for the way the club is run, he didn't do what the fans wanted (that's not always easy to take) but the business idea they've adopted makes perfect sense .

This is critical to any Business, especially when a Football Club is concerned and is exactly what CG has done ,took the hard decisions .Sports Direct and Mike Ashley are flying as he has taken their sales to the top .

This could be a good deal.

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"A source familiar with Mr Ashley told The Herald: "Mike has a great business. He certainly knows what he is doing on the merchandising, on the logistics front, that is for sure. Mike will want to get JJB out of the way and pick up the merchandise. It gets him a seat at the table."

How do you become "familiar" with someone? :sherlock:

I mean, you can be "familiar" with someone's methods of doing stuff, be "familiar" with their history, etc....but to just be "familiar" is fucking hilarious. :D

Is the 'source' sleeping with him, as in, shagging him? :rolleyes:

Now that sounds "familiar". :sherlock:

The fucking Herald right enough. :wanker:

They're as "familiar" to reputable journalism as Neil The Bigot is to dental hygene.

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