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Police raid Sports Direct HQ

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Police have visited the headquarters of Sports Direct in Derbyshire as part of an ongoing investigation into takeovers at Rangers.    Sports Direct owner Mike Ashley has a nine per cent stake in Rangers.

In a statement, Sports Direct have made it clear that the investigation does not concern Sports Direct or any of its employees.

Instead, the visit was part of an investigation into businessman Craig Whyte who took control of Rangers for £1 in May 2011 only to place it into administration in February 2012.   Ticketus, a ticketing agency, claims it gave him £27m in 2011 to buy the club in exchange for three years of future season ticket sales.

Ticketus has continued to pursue Mr Whyte through the courts for £17.7m, securing a judgment against him in 2013.  Mr Whyte was arrested and subsequently released on bail in November in Mexico after he missed a court hearing.

A spokesman for Sports Direct declined to respond to a question from the Financial Times about whether Mr Ashley had any links to Mr Whyte.