Mike Ashley wants Rangers to return £5m loan
Mike Ashley wants his cash back.
The Rangers shareholder has requested the club's board call an extraordinary meeting to pay back his £5m loan and explain why Rangers have been delisted from the Aim stock exchange.
In a letter acquired by The Daily Record, Ashley has told the new Rangers board to hold a meeting and pass a resolution to pay back the £5m within 10 days.
Rangers were delisted from the Aim exchange in April after failing to find a nominated adviser. If the loan was returned to Ashley, the club will regain securities on branding, retail rights and the Murray Park training ground – granted to Ashley's MASH Holdings as part of the deal.
More to follow.
Read more: Rangers shares delisted from AIM stock exchange