Newcastle Owner Mike Ashley Wins Injunction Against Rangers
Sports Direct won't have to disclose the details of their retail deal with The Gers...
Newcastle United owner Mike Ashley's Sports Direct have won a court injunction against Rangers football club disclosing confidential information about the retail deal that is currently in place between the two.
The court order prevents Gers from revealing details of their contract during a meeting called by Ashley himself which is due to be held this Friday. The SD tycoon, who is still a Rangers shareholder despite promising the world to United fans before the last home game of the season against West Ham, asked for the EGM to force the club to pay back a £5 million loan claiming that repaying the money would allow Rangers to restore some of their retail income.. Ashley's sportswear company was also awarded costs of £20,000 at the Royal Courts of Justice after they had asked the Chancery Division of the High Court in London for its deal with the former Scottish champions to remain private. The application heard evidence from lawyers representing both sides but found in Sports Direct's favour and ordered Rangers to pay legal costs. Sports Direct currently controls around 75% of Rangers' retail operations, but the club say they want to challenge those contracts at the EGM presumably. The club have also asked shareholders to vote against resolutions put forward by Ashley's company, which wants Rangers to repay the loan and explain the decisions that led to the club being delisted from the AIM stock exchange. For all the latest NUFC News, Views and Transfers make sure to follow whatculture.com/NUFC on Twitter and Facebook.