The Scottish FA has "thrown out" EPL side Newcastle Owner Mike Ashley's appeal after being found guilty of breaching "dual ownership" rules -- but reduced his fine to just £1,000 ($1,600), according to the Scotland DAILY RECORD. The world's 318th richest man had initially been fined £7,500 ($11,900) by the SFA. The Sports Direct tycoon "currently holds an 8.92 per cent stake" in the club. The club still owes Ashley £5M ($8M) "from a loan taken out in January but have turned down his recent demand to have it repaid immediately." Among his reasons for appealing the initial sanction Ashley had appealed "on the basis that there was no evidence that any harm had been caused to the interests of association football, that the credit facility arrangement had benefited Rangers, that there were no aggravating factors, that the appellant had a good disciplinary record, and that therefore no sanction ought to have been imposed rather than one well above the starting point of top end sanctions of £1,000." Issuing its decision, the SFA's Judicial Panel admitted that it had "erred" over the fine but not in its overall decision (DAILY RECORD, 6/18).
