Mike Ashley hit with £7,500 fine for dual interest
Mike Ashley was facing a less-than-hefty-fine of £7,500 from the Scottish Football Association for holding a dual interest in Glasgow Rangers.
Ashley, who is reportedly worth £3.3bn, was found guilty of influencing management at Rangers after the appointments of chief Derek Llambias and finance director Barry Leach, both of whom are long-term acquaintances of Ashley. Llambias is a former chief executive of Ashley’s Premier League interest, Newcastle United, and Leach was once head of brands at Sports Direct.
Ashley holds a nine per cent stake in Rangers and has provided secured loans for the club. The billionaire was deemed to have failed to have clarified his role with the Glasgow club, and now faces the fine. Last year the SFA wrote to Ashley asking him to provide assurances over his role with the club.
In another ruling, a verdict of not proven was returned to a charge of not acting in the best interests of the game.
If Ashley is worth £3.3bn, the fine is 0.00002 per cent of his wealth. According to the ONS, median household wealth in the UK is £218,400, meaning an equivalent fine levvied on the average Brit would be 5p.