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SBD Global/August 18, 2014/Finance

EPL Side Newcastle Owner To Increase Stake In Scottish Championship Side Rangers

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EPL side Newcastle Owner Mike Ashley "is set to increase his stake" in Scottish Championship side Rangers, according to the Scotland DAILY RECORD. Ashley "has reportedly pledged a significant loan to the Ibrox side after he had knocked back a similar request earlier this year." The billionaire businessman already owns around 7% of the club and "it is believed that stake will be considerably bigger after his cheque is cashed by Rangers, whose cash woes continue." It has been "rumored for some time" that he "wanted to buy Rangers outright and step away from Newcastle United, where he remains an unpopular figure among the fans" (DAILY RECORD, 8/17).
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