Retail Control

RANGERS' retail operation remains under the control of billionaire Mike Ashley even though club chairman Dave King has now been appointed as a director, new papers reveal.

The latest annual return newly posted for Rangers Retail Limited confirms that the Sports Direct founder and owner remains the ultimate controlling party - despite attempts to renegotiate the deal.

In January, the company were given a further 26 percent of shares in Rangers Retail to add to the 49 percent which was already owned by the English businessman. It was a condition of his £5 million emergency loan to the club.

Now it is revealed they have come in the form of B shares, which are seen as second-class stock in the company which runs the club's entire retail and merchandise operation, including the club's Rangers Megastore and holds rights under licence to the club's famous crests

http://www.eveningtimes.co.uk/news/13439288.Sports_Direct_supremo_Mike_Ashley_still_the_power_behind_the_Rangers_retail_throne/