Mike Ashley fined by Scottish Football Association for ownership breach

Newcastle United owner and Rangers shareholder Mike Ashley has been fined £7,500 for a breach of the Scottish Football Association's dual-ownership rules.

The SFA charged Ashley in December amid claims that he had undue influence at Rangers, despite owning less than 10% of the shares.

Ashley, who is understood to be worth over £3bn, has loaned the stricken Scottish club around £10m to help ease their financial woes.

The SFA has now hit the businessman with a fine for his involvement in both Rangers and Newcastle, but a further charge of failing to act in the "best interests of association football" was not proven.

The Gers will appear at a hearing on March 16 to answer three charges relating to Ashley's influence at the club.

Amid plenty of turmoil behind the scenes at Rangers, Dave King claimed on Tuesday that he had won control of the club.