Rangers fans write to SFA demanding Mike Ashleys power grab at Ibrox is blocked Oct 09, 2014 By Gary Ralston THE Union of Fans claim Ashleys demands for an EGM to remove chief executive Graham Wallace and director Philip Nash falls foul of UEFA rules on dual ownership. Record Sport revealed how Ashley demanded full control of the Rangers badge in return for an emergency loan to the cash-strapped club. Wallace refused, but the Newcastle owner still holds considerable interest at Ibrox beyond his shareholding 8.92 per cent. The Sports Direct tycoon has already tied up the naming rights to Ibrox for £1, has taken control of the club’s retail outlets and has a lucrative seven year merchandise deal. Union of Fans spokesman Chris Graham said: “The SFA has a duty to Rangers to rigorously enforce both its own and UEFA rules on dual ownership. “We believe Mr Ashley’s EGM call is a breach of those rules and we have written to the SFA calling on them to take appropriate action. “The SFA’s special dispensation, which allowed Mr Ashley to purchase up to 10% of the club, was clearly designed to mirror UEFA rules on dual ownership. “These rules do not allow anyone to exert a ‘decisive influence’ over the decision making of two clubs. There can be no more obvious attempt to exert ‘decisive influence’ over another club than to try remove its executive directors. “Charles Green and the previous board, as placemen for shareholders currently represented by Sandy Easdale, have already allowed Mr Ashley to plunder the club for onerous merchandise contracts and virtually free stadium naming rights. He also has full control of the club stores. “We firmly believe that it is Mr Ashley’s intention to now attempt to grab ownership of the club’s trademark rights including our name and badge. “We believe he is deliberately attempting to hamper the efforts of others to invest in the club so that he can provide a loan on terms which will allow him to demand these trademark rights.” Former directors Dave King and Paul Murray have formed an alliance with wealthy fan George Letham to offer Rangers a £16 million bail out . That move is supported by Wallace, but opposed by Ashley and chief lieutenant Easdale and highlights the division in the Ibrox boardroom. The SFA were unavailable for comment. Thoughts bears?! ((Natalie))
Posted on: Fri, 10 Oct 2014 03:07:33 +0000