worth £5.5m. Sevco was subsequently renamed The Rangers Football Club Ltd at the end of July 2012. Ten of the other eleven SPL clubs voted against allowing Rangers to transfer their SPL membership share to a new company on 4 July, leaving the club applying for a place in the Scottish Football League. On 13 July, 29 out of 30 SFL member clubs voted to give Rangers associate membership, but 25 of them also voted to place the club into the Third Division of the Scottish Football League from the start of the season. Rangers clinched the Third Division title on 30 March after a goalless draw at Montrose, combined with a Queen's Park defeat. Apart from being defeated 2–1 by Forfar in the first round of the League Cup on 3 August, season 2013–14 began with Rangers obtaining maximum points in their first fifteen games in League One. 2014 was a mixed bag for the club: they reached the Ramsden's Cup Final, in which they were beaten by Raith Rovers. On 3 May, after a 1–1 draw with Dunfermline, Rangers players made history by becoming its first team in 115 years to go an entire league season unbeaten, finishing as Scottish League One champions. Rangers' boardroom politics were a fractious force, causing a constant flux with change after change of various directorial positions, rival factions attempting to take control of the company and the emergence of Mike Ashley as the majority stakeholder and power-broker in late 2014. That summer saw continued discontent with various fans groups, alongside Dave King, attempting to influence the board by withdrawing season-ticket money. This resulted in a drop of around 15,000 season tickets from the previous season, leaving the club requiring a financial injection which the board hoped would come from a share issue and announced this in June. However, the initial intention of raising up to £10 million through an investment plan by the end of August failed when city investors did not purchase enough shares; therefore, the club relaunched a £4 million issue open to all existing shareholders only. Rangers fans' discontent was demonstrated during a Championship game against Queen of the South at Ibrox by their holding up red cards in the 18th and 72nd minutes. This was followed on 3 September by a report that Mike Ashley had bought the naming rights to Ibrox Stadium for just £1 in a