Retailer Sports Direct has "won an injunction" against Scottish Championship side Rangers to "prevent confidential information being revealed" at an EGM planned for Friday, according to STV. The injunction was obtained at the Chancery Division of London's High Court after Sports Direct complained that "information had already been leaked to the press." A judge ruled, "I am satisfied there is a real risk of disclosure tomorrow of confidential information." Sports Direct Owner Mike Ashley, who has shares in Rangers and also owns EPL side Newcastle United, sent his lawyers to court after the Daily Record newspaper carried reports of what the judge was told was "secret information relating to commercial links between Sports Direct and Rangers." It was claimed in court that "this had come from board members" (STV, 6/11). In Glasgow, Ben Rossington reported Justice Asplin ruled there was a "great risk" confidential details
would be revealed at the meeting Ashley himself called as the board "looked to put shareholders in the full picture." Without an order,
the judge said, "any breach of existing agreements to keep conversations
and conditions secret could do damage" to Sports Direct that would be "impossible to quantify." Thursday's order banned Rangers from revealing "the existence of any talks, past or future;" the contents of "any discussions including any agreements or arrangements" and "any information provided by or on behalf of Sports Direct to Rangers" (Scotland DAILY RECORD, 6/11). The BBC's Chris McLaughlin reported Rangers' lawyers said that there was "no evidence as to the actual source of the leaks." Sports Direct currently controls around 75% of
Rangers' retail operations, but the club said that it wants to "challenge
those contracts at the EGM" (BBC, 6/11).
LOAN CALL REJECTED: In London, Michael Grant reported members of a prominent Rangers fans' group "have voted overwhelmingly" to reject
Ashley's call for the club to repay his £5M ($7.8M) loan. Ashley has called a general meeting of Rangers shareholders and in a statement
issued via MASH Holdings, its parent company, he said that Sports Direct was "not
a bank." But his resolution "will be defeated when shareholders vote at Ibrox" Friday morning. Ashley is "not expected to attend and it is unclear if he
will send representatives to speak on his behalf" (LONDON TIMES, 6/11).
