SportScotland/Murray Park

SPORTSCOTLAND have reportedly moved to guarantee they will be fully repaid if Rangers' Murray Park training ground is sold by Mike Ashley.

The Sports Direct businessman gained security over the ground when he loaned the club £5m in January.

Sportscotland gave Rangers oldco £650,000 towards construction of Murray Park in the 1990s.

It was reported today that, should the club default on the terms of Ashley's loan, the ground would fall under joint ownership of Ashley and Sportscotland.

The government department's interest in the building will extend only to ensuring they are paid back their £650,000.

Any other proceeds from the sale of Murray Park would go to repaying Sports Direct's £5 million.

STV reported that a document was signed on May 6 by Rangers director Paul Murray and Sportscotland chairwoman Louise Martin on May 27.

Sports Direct's chief executive Dave Forsey signed on June 12, the day Rangers chairman Dave King was reportedly in London for discussions with the company over their loan to the club.

The money given to Rangers by Mike Ashley remains a point of controversy for the club, with the businessman holding security over more than their training ground.

Should the board default on the £5m, Sports Direct would also inherit the club's trademarks and badges, as well as Albion Car Park and an office block at the club's stadium.

The deal also ensures that 75% of all revenue from the sale of Rangers merchandise, including replica shirts, goes to Ashley's firm.

http://www.eveningtimes.co.uk/news/13353384.Sportscotland_to_get_Murray_Park_cash_back_if_ground_sold_by_Ashley/

Thoughts........