Mike Ashley sells ALL his Rangers shares to fans’ group Club 1872 and businessman Julian Wolhardt as chairman Dave King says club will now be run by ‘those who care for it most’
The move comes just two days after Ibrox club ripped up previous seven-year deal with Sports Direct and announced new one-year agreement
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DAVE KING hailed the end of Mike Ashley's influence at Rangers and claimed the club will now be controlled by "those who care for it most".
Newcastle owner Ashley sold his entire shareholding in Gers this afternoon with fans' group Club 1872 and individual investor Julian Wolhardt each investing £1million to buy him out.
The significant move means Club 1872 now control just under 11 per cent of the club.
Wolhardt, 44, who is the CEO of Hong Kong based private equity firm Dehong Capital Partners, also takes an important stake.
chairman King said: “This is the partnership I want to see lead Rangers forward.
“Rangers run by those who care for it most, not what has been dismissively described by some as “fans with calculators,” but a mature and structured organisation which can galvanise and represent our supporters and use their skills and talents to drive our club back to the top of Scottish and European Football.”
The latest dramatic moves at Ibrox come just 48 hours after retail outlets and announced a new one-year deal on far more favourable terms.
That saw delighted Gers fans flock to the Ibrox megastore yesterday .
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King is also delighted to welcome Wolhardt on board as an investor.
He said: “Julian’s decision to invest in Rangers is exciting for the club.
"His business background and acumen are exceptional and it is very pleasing that his scrutiny of the club and its strategy has convinced him of our financial prospects and the merits of our business plan.”
A spokesperson for Club 1872 said: “We are delighted that our members’ support for Club 1872 has brought us to a point where we can acquire those shares and complete the process of restoring control of RIFC to those who view the footballing success of Rangers FC as being just as important as RIFC’s careful stewardship financially.
"Club 1872 allows Rangers supporters to help safeguard the future of our club. Taking our shareholding above 10% puts us well on our way to that goal.
"Our next ambition is to reach out to those Rangers supporters who are not already members of Club 1872 and encourage them to join.
"Together we can achieve great things for our club."
Wolhardt said: "I am delighted to become an RIFC shareholder.
"I have a long held love for Scotland and football and I am keen to see Rangers FC unlock its considerable commercial potential.
"With the successful restructuring of the retail operations, RIFC is now on a firm financial footing and I look forward to being a part of its exciting future."