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Ashley loans Gers £10m to pay wages
Newcastle owner now holds 75 per cent stake in Rangers

Newcastle United billionaire owner Mike Ashley strengthened his grip on Rangers yesterday after the Ibrox side accepted his offer of a £10 million loan two days before wages were due to be paid.

£5m will be available to Rangers immediately for working capital, £3m of which will be used to pay back the crisis loan that Ashley gave them back in October.

In return for his loan, Rangers have handed Ashley security over the Murray Park training ground, Edmiston House, Albion Car Park and importantly the registered trademarks — such as the Rangers name and the club badge.

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