Dave King reportedly in talks with major Rangers shareholder Sandy Easdale

Dave King has stepped up his bid to gain control of Rangers by holding talks with one of the club’s major shareholders, Sky Sports understands.

The former Rangers director is believed to have spoken to Sandy Easdale via telephone as he looks to open the way for a new share issue later this year.

King has offered Rangers a cash injection of £16million in return for he and his associates gaining 51 per cent of shares via a new share offer that would take place following the club’s AGM.

But with Easdale currently controlling 26 per cent of Rangers shares, he has the power to block any motion for a new share offer to be issued.

Sky Sports News HQ reporter Charles Paterson described the reports of a discussion between King and Easdale as the most significant breakthrough since King flew to Scotland from his South Africa base last week.

“I’m told it was an amicable discussion, but according to a source close to these talks, there remain many unanswered questions,” Paterson said.

“The reason King’s chat with Easdale is significant is because of what Dave King is trying to get out of it. He has offered Rangers a £16million cash injection, and he and his associates would gain 51% of shares in Rangers via a new share offer.

“But that has to be approved by 75 per cent of Rangers shareholders and Sandy Easdale controls 26% of Rangers shares, so he has a veto on any potential share offer.

“So King knows that he has to do business with Easdale after he publically backed Mike Ashley, who is also lurking in the background as a possible financial rescue for Rangers.

“If Dave King can strike a deal with Easdale, we could be seeing an end to the long struggle for control of the Rangers boardroom.

“We understand that Dave King is flying back to South Africa on Thursday, and we are expecting a statement from him by the end of the week.”