Mike Ashley and addressing the unhinged

We at The Rangers Observer would like to address some deliberate misinformation emanating from the lunatic fringe of the green and grey support over the past few days.

Most notably we would like to focus on our unemployed friend Phil White/McGillivan/MacGiollaBhain and the world leading financial advisor David Low.

Of course, as everyone now knows, Rangers have struck a new retail arrangement with Sports Direct and as part of that deal, Mike Ashley has sold his stake of just under nine per cent in Rangers.

The ever reliable Phil has made the claim recently that Ashley made £980,000 from his recent share sale to Club 1872 and Julian Wolhardt. The following image is taken from his spectacular blog page.

Low also boldly claimed on his Twitter account that Ashley was a "huge winner" and that he had made a "huge profit" on the sale of his shares.

Let us get the abacus out and walk these two gentleman through their claims.

In 2012, Ashley purchased 3,000,000 shares in Rangers. Half of which were at 1p per share and the other half at 99p. In October 2014, Ashley increased his stake purchasing 4,265,000 at 20p a share. This gives a total outlay of £2,353,000.

Fast forward to June 2017 and Ashley sold his entire shareholding at 27.5p per share. That was a total of £1,997,875. I'm sure Phil won't need his madey up rugger guy to do the maths or require the financial advice of David Low - but that represents a loss of £355,125.

Let's go over it one more time for the hard of learning. Ashley made a loss of just over £350,000 from trading shares in Rangers from 2012 to 2017. Nice try, bhoys.

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