Newcastle owner Mike Ashley is fined by the SFA for involvement with Rangers
Billionaire Newcastle owner Mike Ashley has been fined £7,500 after he was found in breach of the Scottish Football Association’s dual ownership rules.
After a hearing which lasted four hours at Hampden Pak on Monday night Ashley was found to be in breach of the SFA’s disciplinary rule 19.
In its full version, the rule reads:
Except with the prior written consent of the Board: (a) no club or nominee of a club; and (b) no person, whether absolutely or as a trustee, either alone or in conjunction with one or more associates or solely through an associate or associates (even where such person has no formal interest), who: (i) is a member of a club; or (ii) is involved in any capacity whatsoever in the management or administration of a club, or (iii) has any power whatsoever to influence the management or administration or a club, may at the same time either directly or indirectly:- (a) be a member of another club; or (b) be involved in any capacity whatsoever in the management or administration of another club; or (c) have any power whatsoever to influence the management or administration of another club.
Ashley mounted a tactical strike on the Ibrox boardroom in September when he declined to invest much needed cash in a share flotation but instead purchased stock privately to increase his own standing. He then forced the resignation of the former chief executive, Graham Wallace, and finance director, Philip Nash, who were replaced by Derek Llambias and Barry Leach.
Source www.telegraph.co.uk
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