Mike Ashley's ownership of Rangers has caused controversy
But the Newcastle owner and key Rangers shareholder had a charge of failing to act in the best interest of the game found not proven.
Ashley won’t have to give up much of his personal wealth of £3.3billion to pay his paltry SFA fine after an independent judicial panel ruled he breached regulations by running Newcastle while also controlling affairs at Ibrox. The maximum fine he could have been stung for under SFA rules was £10,000.
It now remains to be seen if Ashley will pay the fine and continue to turn the screw at Ibrox through his commercial deals and loans or end his association via negotiation with Dave King and his allies.
King yesterday claimed a landslide victory in the battle for the boardroom at Ibrox but will still inherit Ashley’s commercial deals and loans and have to deal with the businessman who owns nine per cent of stock in the club.
Ashley’s deals also give him the right to make two appointments to the board.
Even if Derek Llambias and Barry Leach are axed at the EGM – or quit beforehand – Ashley can nominate another two directors. But this would again alert the SFA to issues of dual ownership.
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