Ashley is set to increase his share in Rangers by underwriting a £4million share issue, which could mean him owning as much as 20 per cent of the troubled Scottish outfit.
Owning two clubs is allowed under Fifa rules, but not if they are in the same competition.
It is not beyond belief that within two years Rangers and Newcastle could be playing in the Europa League.
Indeed, The Journal says if he was to completely take over Rangers, selling Newcastle could become a priority for the deal to go through.
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