Rangers fined 拢5,500 for breaching SFA 'ownership' rules

Image source, SNS

Image caption, Rangers have been fined a total of 拢5,500

Rangers have been fined 拢5,500 by a Scottish Football Association judicial panel for breaching "dual ownership" rules relating to Newcastle owner Mike Ashley.

Ashley, who has a 9% stake in Rangers, was himself fined 拢7,500 last month for the same offence.

A disciplinary tribunal deemed Ashley had influence in the Ibrox boardroom.

The bulk of Rangers' fine was imposed for failing to act towards the SFA with the utmost good faith.

Rangers were also fined 拢500 as Ashley was deemed to have influenced the management or administration through the appointment of business associates Derek Llambias and Barry Leach to the club's board.

Ashley has made cash loans to the cash-strapped Scottish Championship club, holds commercial contracts and had Llambias and Leach operating as chief executive and finance director, respectively, on the Ibrox board until they were removed at an extraordinary general meeting called by Dave King.

In December, the SFA refused to allow Sports Direct owner Ashley to increase his stake in Rangers International Football Club to 29.9%. He had previously signed an agreement that limited his shareholding to 10%.