Court ruling in favour of retail tycoon
Ashley blocks Rangers board move to quash his influence
Mike Ashley has secured a temporary court ruling preventing the Rangers board from neutralising his influence over the club.
The Sports Direct tycoon and 8.9% shareholder at Ibrox has been granted an interim interdict at the Court of Session which means the withdrawal of a key resolution that was due to be put to shareholders at Friday’s AGM.
Resolution 11 called for the removal of voting rights from any shareholder involved in the running of another club. Mr Ashley is majority shareholder at Newcastle United.
The decision has been made on an interim basis only until the petition can be fully considered by the court. However, it means the resolution will not be presented to the meeting and shareholders will not have the opportunity to vote on it.
The board moved the resolution to seek protection against a breach of the Scottish Football Association’s Disciplinary Rule 19 on dual interest.
The AGM will be held at Glasgow’s Clyde Auditorium on Friday.
Mr Ashley is also due to face chairman Dave King on 9 December, alleging Mr King breached a gagging order – obtained by Sports Direct in June – during an interview with Sky Sports.
Also next month the SFA will begin its defence of Mr Ashley’s case for a judicial review of the Association’s decision that Mr King is a fit and proper person to be involved in football.