Rangers are reportedly making a £1,000-a-week contribution to the wages of the Newcastle players, although Shane Ferguson, Gael Bigirimana and Remie Street have been injured, while Kevin Mbau is training with the Academy squad as he is not thought to be good enough to play in the second tier of Scottish football.
Gael Bigirimana (left), Haris Vuckic (middle) and Remie Streete after signing for Rangers
Although Llambias claimed Ashley was not directly involved in the running of Rangers, the Scottish Football Association found the Sports Direct owner guilty of breaching their dual ownership rules shortly before King called an emergency shareholders meeting to remove Ashley’s men.
Ashley retains a stake of around 9% in the Scottish club and controls the merchandising arm of the business thanks to deals struck with Llambias.
The Newcastle owner has since lost control of the boardroom at Ibrox, although he could launch another takeover attempt if King fails to come up with the funds needed to keep Rangers in business.
Dave King (centre) celebrates after sweeping into power at Ibrox
Rangers confirmed losses of £2.6m for the six months up to the end of December and are expected to suffer similar losses over the course of the second half of the season. It remains to be seen what will happen if Ashley demands his £10m back at short notice.
A Rangers statement read: “During the January 2015 transfer window, the Club loaned five players from Newcastle United.
“As part of those contracts, should the Club gain promotion in season 2014/15, either directly or via the play-off method, the Club will be liable to pay a total of £500,000 to Newcastle United Football Company Limited.”
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