FRAN ---------------Rangers in crisis: Fans hold protest outside Ibrox over Mike Ashleys move to to use stadium as security for £10m loan Jan 16, 2015 By Stephen Stewart HUNDREDS of fans protested outside the ground tonight over the Newcastle United owners plans to hold Ibrox as security against a £10million loan for the club. SNS GroupRangers fans make their feelings known outside IbroxRangers fans make their feelings known outside Ibrox HUNDREDS of Rangers fans demonstrated outside Ibrox tonight to voice their opposition to tycoon Mike Ashley’s plans to use the stadium and Murray Park as security for a £10million loan. The Union of Fans organised a mass demonstration before the SPFL Championship home game against Hearts to protest against the move. Raging supporters sported placards and sang “Sack the Board” at the main doors to the stadium before kick off. The protest triggered a storm on social media. On Twitter, Rangers fan James A Black wrote: “Hats off to every single Bear outside the main doors of Ibrox making their voices heard.” The Rangers Supporters Trust, said: “The message from the Rangers support is clear. We are up for this fight.” Rangers issued a statement to the Stock Exchange saying they were considering various proposals to safeguard the financial future of the Ibrox club. The League One champions are operating at a significant monthly loss and need to secure substantial investment in order to continue as a going concern. But the prospect of Ibrox and Murray Park being used as a security for another loan from Newcastle United owner Ashley has not been well received by supporters. Rangers released a statement on their official website last year assuring fans Ibrox would never be used as security amid growing fears it would be utilised for that purpose. Club chairman David Somers told the AGM last month he had not been prepared to give Brian Kennedy security over Ibrox in return for a loan back in October. The Rangers Supporters Trust revealed they were taking legal advice over the matter and had contacted MPs in an attempt to secure “political and government support”. A Trust statement read: “We believe the board may be acting illegally on two fronts and we will be working with any other shareholder who wishes to challenge this. If necessary we will instigate legal action against the directors both collectively and individually.” The Rangers First fan ownership scheme, which holds nearly a one per cent stake in the club, attracted over 200 new members when news of the development broke yesterday. A Rangers First statement read: “Rangers First calls on the board to urgently clarify the position and to confirm its undertaking not to grant security over Ibrox Stadium.
Posted on: Fri, 16 Jan 2015 21:18:27 +0000