Despite claims that he wasn't set to buy any more shares in Rangers, Newcastle supremo Mike Ashley has today doubled his stake in the Scottish club to nine per cent, taking him just under the 10% stake he's legally allowed by the SFA. That increase in shares amounts to more than four million shares, at a cost of £853,000, which were picked up according to the Chronicle from investment group Hargreave Hale. He had owned almost 4.5% previously and owns the naming rights to the stadium, bought for just £1, and the full control of the club's retail stores. SFA legislation states that he can't own more than 10% as he owns another football club, which had prompted some speculation that he was looking to move Newcastle on to a new buyer in the longer term. While that was subsequently rubbished - and more bans issued to press who dared utter it - it makes sense for Ashley to move his concerns to Rangers rather than Newcastle. If he did make that move, he would be looking at Champions League participation as a minimum requirement, a lessened need to invest in playing talent and a duopoly of the Scottish Premier League once they are promoted. But apparently he's not interested in increasing his stake... Or selling Newcastle...
