Financially strapped Scottish side Rangers sold the naming rights to Ibrox Stadium to British entrepreneur and Newcastle United owner Mike Ashley.
In fact, the sale to Ashley, who also owns sporting retailer Sports Direct, occurred two years ago, when former Rangers chief executive Charles Green was in charge, and was purchased for the minuscule fee of £1, according to the BBC.
The sale came at a time of financial despair for the Scottish side, when they entered administration and the Daily Record reports the name of the stadium could be changed “at the drop of a hat."
Rangers director Sandy Easdale broke the news of the sale and said, "Mike Ashley could call it the Sports Direct Arena tomorrow.”
BBC Scotland, however, indicates Ashley has no intentions of changing the name of the 115-year-old stadium any time soon.
Ashley owns 4.56 percent of club shares, according to The Guardian. He has an interest in increasing that amount but is prohibited by the Scottish Football Association from owning more than 10 percent of the shares.