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Ashley fined for dual interests

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Sports Direct founder and Newcastle United's owner Mike Ashley. (AFP)
Sports Direct founder and Newcastle United's owner Mike Ashley. (AFP)

London - Newcastle United owner Mike Ashley has been fined $11 500 for breaching dual interest regulations by investing in Rangers, the Scottish Football Association (SFA) announced on Tuesday.

Ashley was charged with breaking rules that prevent parties from exerting an influence over more than one club after acquiring an 8.92 percent stake in Rangers last year.

The British businessman was hit with the fine following an SFA disciplinary tribunal on Monday, but a second charge that he had not acted "in the best interests of association football" was found to be "not proved".

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