Newcastle owner Mike Ashley ready to buy Rangers

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Newcastle owner Mike Ashley is set to launch a surprise takeover of Scottish League One champions Rangers.

The multi-millionaire wants to bring back the days of success at Ibrox and already owns a seven per-cent stake in the club.

The 49-year old feels there could be money to be made as Rangers have retained a loyal fanbase.

Ashley is also unwilling to sell Newcastle which will hardly be music to the ears of Toon fans who desperately want to see him sever all ties at St James' Park.

The 'Mike Ashley Out' campaign even held an open top bus protest through the city centre before they were soundly beaten 4-0 by Manchester United.

They believe that he has very little interest in the success of the team and runs the club purely as a financial institution. He also oversaw the meagre price for which Yohan Cabaye departed for PSG and has often been criticised for selling their best assets.

It is not known whether Newcastle manager Alan Pardew's tenure is safe either following two successive defeats by a four-goal margin.

There are rules which prevent anyone owning clubs in the same competition however so he will be hoping that Rangers aren't competing in European competition any time soon.

Despite the Scottish club's well-documented financial problems in the past, the club could still be a profitable one if they are owned by the right person.

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