Mike Ashley has had his fine for breaching the Scottish Football Association's dual-ownership rules reduced to £1k.

He had originally been fined £7.5k, in relation to his involvement with Rangers and Newcastle United, but submitted an appeal to a judicial panel at the SFA.

Ashley had hoped that the initial sanctions would be cleared completely, saying in a statement: "There was no evidence that any harm had been caused to the interests of association football, that the credit facility arrangement had benefited Rangers, that there were no aggravating factors, that the appellant had a good disciplinary record, and that therefore no sanction ought to have been imposed rather than one well above the starting point of top end sanctions of £1,000."

Rangers owe Ashley £5m following a loan taken out in January.