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King: Rangers can cope without loan from Newcastle owner Ashley

Businessman Dave King is confident that Rangers do not need the £10million loan handed to them by Mike Ashley.

The Newcastle United owner has given the Glasgow club two loans of £5m each but it is expected that King will remove his influence, along with that of non-executive directors Derek Llambias and Barry Leach, when he completes his takeover on Friday.

"I have not seen the nature of the loans," King told the Daily Mail.

"That may be possible, it may not. But again, we have indicated we are willing to put loans in, so I don't regard the loans as being an issue.

"Rangers as a football club can afford the loans from anyone else.

"With the asset base it has got and the fanbase, if we get them all back into the club, a £5m or £10m debt is very, very affordable for Rangers.

"When I was on the board previously, we had £35m of bank debt and potentially £50m of HMRC debt. So £10m is not a catastrophic number."

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