The start of 2015 saw Ashley's control over Rangers weakened as deals were made with a consortium led by Dave King, to purchase the shareholding of Laxey Partners which had stood at 16%. King took control of a 14.57% stake and two weeks later called for an EGM on 16 January. The original date was set by the board was 4 March in a hotel in London, however, this was then moved to Ibrox Stadium after two successive hotels refused to host the event and the date was confirmed for 6 March. During the run up to the EGM, the incumbent Rangers board agreed £10m funding deal with Sports Direct. The agreement saw Sports Direct hold a floating charge over Murray Park, Edmiston House, the Albion Car Park and the club's registered trademarks. Sports Direct was also transferred 26% of Rangers' share in Rangers Retail Limited (Rangers previously held 51% with Sports Direct holding 49%). The club were bound to forego all shirt sponsorship revenue for the 2016-17 season and subsequent seasons until the loan is repaid. On transfer deadline day, Rangers also loaned five players from Newcastle United, a Premier League club that Ashley owns.