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SFA climb down over Ashley hearing

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SFAThe SFA have caved into the demands of Mike Ashley and will stage tomorrow’s hearing into the Sports Direct chief’s growing control of Sevco by conference call.

As part of the highly secretive Five Way Agreement signed in 2012 Mr Ashley was permitted to own 10% in Sevco provided he didn’t exert any boardroom influence.

The Newcastle chief drove a horse and cart through that on October 8 when he called for an EGM to remove chief executive Graham Wallace, who used to work for Manchester City, and Philip Nash.

Mr Wallace and Mr Nash were removed without an EGM being called with Deek Llambias and Barry Leach drafted in at the same time as Mr Ashley provided £3m in emergency loans to keep the club afloat.

On December 15, a week before the club AGM the SFA charged Mr Ashley and the club with breaching SFA rules with the hearing set for January 27- more than three months after the EGM was called.

Today it has emerged that despite advance notice of the hearing Mr Ashley’s legal team have informed the SFA that they will only be available by conference call.

Rather than force the Sevco delegation to appear in person or be charged in their absence the SFA have agreed to a conference call to answer the charges.

News of the conference call comes as the clock ticks towards Thursday’s payday with around £2m required to those obligations.

Mr Ashley’s emergency loans allowed the November and December wages to be met but with the Newcastle chief keeping his cards close to his chest there is no clear indication that another cheque is on it’s way for the January commitments.

On Friday it was reported that attempts to include Ibrox as security on the January loan had been withdrawn but with no AIM announcement this morning Mr Ashley’s claim with the land register is still in place.

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