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Scottish Leagues

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Ashley doubles Rangers stake

Newcastle United owner Mike Ashley has more than doubled his stake in Rangers to hold just under 9 per cent of the shares.  The maximum stake he is permitted to hold under an agreement he concluded with the Scottish football authorities is ten per cent.

Newcastle not for sale

Newcastle United owner Mike Ashley has denied reports that the club is for sale.   It had been suggested that he was interesting in taking over Rangers in which he has a 9 per cent stake.  However, he has also said that he will not be buying any more shares in Rangers.

A takeover at some point in the future has not been completely ruled out, however, as he has said that he will not sell the club until the end of next season.

More financial problems at Rangers

Rangers are facing more financial turbulence after former director Imran Ahman succeeded in a court bid to freeze £620,000 of their assets over a bonus dispute.   Rangers have appealed the court's decision on the grounds that there has been an 'error of law' and are expecting a hearing tomorrow.

Financial fair play scores own goal

We have long argued that financial fair play could have unintended and perverse consequences.  This view is supported by the latest authoritative annual survey of football by accountancy firm BDO.  The survey found that few clubs thought the rules were having the desired effect.

Debt free status avoids fire sale

When a club becomes debt free, as Dundee United now are, it can help to avoid fire sales of players. This means they do not have to be let go below their market value to boost cash flow.   They can also be retained longer, contributing to playing success and enhancing their value.

Rangers fans push season ticket campaign

The organisation representing Rangers fans, Union of Fans, has been pressing the board of the club to reveal how many season tickets have been sold for next season.  The organisation has been backing a call to pay renewal money into a season ticket fund.

If the 38,000 season tickets sold last season are not renewed, the club could face cash flow challenges. It appears that around 15,000 may have been sold so far.   Two loans made to shareholders amounting to £1.5m are due for repayment shortly.

Hibs see financial blow of relegation softened

The relegation of Hibernian from the Scottish Premier League is a big blow for fans, but the financial consequences may not be that serious.   Next year three of the five best supported teams in Scottish football will be play in the Scottish Championship: the two Edinburgh clubs, Hearts and Hibs, and Rangers.

Precarious financial situation at Ibrox

The chairman of the football board at Rangers, Sandy Easdale, has told BBC Scotland that the financial situation at the club is 'precarious'.   Easdale, who is a major shareholder, raised the spectre of a second administration.

Season ticket sales have been slow and the accounts have been signed off on the basis that there would be a major uplift.   It is certainly a matter of concern that the club is reliant on season ticket sales for the next campaign for cash flow.

Liquidation threat lifted at Hearts

The threat of liquidation has lifted from Hearts after failed Lithuanian bank Ukio Bankas agreed to sell its shares in the club for a reported £2.5m.   The bank was the club's biggest creditor and held 29 per cent of the shares as well as security over the stadium.   Hearts should now be able to come out of administration before too long.

New shirt sponsorship deal for Rangers

Rangers have concluded a three year shirt sponsorship deal with online casino group 32Red.  The company has previously sponsored Aston Villa and Swansea City.

32Red chief executive Ed Ware said 'This is not a punt.  It is an educated investment.'   Rangers were 'on the comeback trail.'