Hotel cancels Rangers’ shareholder meeting over Mike Ashley’s involvement following concerns about “significant disruption”

The hotel that was to host the upcoming general meeting for Rangers shareholders has pulled out over fears it would result in “significant disruption” to other guests and neighbours. 

 

The meeting is expected to be something of a showdown between the club's shareholders and Mike Ashley, who recently lent Rangers more than £10m to shore up its finances. 

 

The Millennium Gloucester Hotel & Conference Centre, in Kensington, London, bills itself as “modern and luxurious”, with “charm and supreme comfort”. 

 

It appears to be concerned that these values would be compromised by investors angry over Ashley's involvement in the club that have led to it pulling out. 

 

A statement put out by Rangers today said the hotel had informed the Scottish club the venue was “no longer available”. 

 

“The hotel management at the Millennium Gloucester has taken advice from different quarters and concluded that the GM cannot be managed without significant disruption to guests and neighbours,” it said.

 

“The hotel management felt it necessary to take this position after receiving numerous complaints and false information from individuals purporting to be shareholders.”

 

“The board is concerned the situation was exacerbated by irresponsible and inaccurate media coverage.”

 

Since Ashley took an 8.9 per cent stake in the club, he has deposed the former chief executive and financial director, replacing Graham Wallace with friend and former Newcastle United colleague David Llambias.

 

Rangers manager Kenny McDowall also claimed he had to pick players on loan from Ashley's other team, Newcastle United, although this was later dismissed by the club's board. 

 

Supporters have been further concerned by the £10m which has been secured against the club's Murray Park training ground and registered trademarks, and gives Ashley a 26 per cent stake in Rangers' retail business until it has been paid back. 

 

An alternative venue for the meeting is now being sought.