The board of Sevco have taunted the SFA with the appointment of former Newcastle chief Deek Llambias as a non-executive director.
The SFA are expected to meet with the Ibrox club this week for clarification over the involvement of Mike Ashley but the appointment of Llambias underlines the role of the Sports Direct tycoon at the club.
SFA rules state that an no-one can hold more than a 3% stake in a Scottish club if they are already own a club in another country. That rule was conveniently put aside to allow Ashley to take a 10% stake when the club joined the SFA in 2012 under the highly secretive five way agreement.
When granting Ashley the right to take up a 10% stake in the Ibrox the SFA highlighted a clause preventing another club owner from having  ‘any power whatsoever to influence the management or administration of another club”
Today’s statement to the Alternative Investment Market said: “The board of Rangers announces that it has appointed Derek Llambias as a non-executive director. He was nominated as a director of its choice by MASH Holdings Limited pursuant to its agreement to withdraw its requisition for a general meeting, as set out in the announcement dated October 27, 2014.
“Mr Llambias has been acting as a consultant to the board of Rangers since October 28, 2014. Mr Llambias held various positions including managing director of Newcastle United Football Club between 2008 and 2013. Prior to this he has been involved in a number of leisure and gaming businesses.
“In accordance with Rangers’ Articles of Association, Mr Llambias will be subject to re-election by ordinary resolution of the shareholders of the company at the upcoming Annual General Meeting which is expected to be held in December.”
Ashley provided Sevco with a £2m secured crisis loan in order to meet the October payroll.