15 Jan 2015 10:55:02
Mike Ashley has posted notice of his intention to take out security over Rangers' Ibrox Stadium.
Documents seen by STV show that Sports Direct have filed their intent to add their name to the title deeds of the ground. Ashley has 35 days to complete the application but the lodging of documents indicates the owner of Newcastle United could be set to provide a secured loan to Rangers to provide badly-needed cash.

How the hell can this get approved!!

1.) 15 Jan 2015
From my understanding of this, the notices of security, lodged with the Register of Scotland on 15 January, mean that only Sports Direct can be granted security on Ibrox and MP for a 35-day period. By doing this Ashley has made it impossible, for the next 35 days, to accept the security condition of the Three Bears' offer thus meaning the Three Bears £6.5m loan secured on MP cannot be accepted.

Only positive I can see is that surely David Somers position is under even more scrutiny now as I believe he said in statements that Ibrox would never be used as security against a loan.

Is this game, set and match Ashley or can anyone see a way out of this.

2.) 15 Jan 2015
I just don't understand why 3 Bears & King don't call a EGM, would this not stop any further discussions until this EGM or can the current board accept it even knowing they will be off the board after the EGM.