Scottish football: Mike Ashley plans to take out security on Rangers' Ibrox Stadium

Mike Ashley has filed documents with the Land Registry lodging his intention to take out security on Rangers' Ibrox Stadium.

And in a move which appears to indicate the Newcastle owner is set to step in and offer the cash-strapped club another emergency loan, he has also handed over documents to the Registers of Scotland informing he will do the same with the club's Murray Park training ground. 

The papers lodged with the RoS - called an advance notice - protect the deed and means anyone else looking to issue the board a loan would now be unable to take Ibrox or Murray Park as security.

The document is valid for 35 days, meaning Ashley has until February 17 to strike a rescue deal. The move also suggests Ashley is not yet ready to give up his grip on power at Ibrox which he strengthened when lending them £3m in emergency loans towards the end of last year.

Ashley has already placed business partners Derek Llambias and Barry Leach onto the board as chief executive and financial director, continues to run the club's retail division and now plans to add his Sports Direct firm to the title deeds of Ibrox and Murray Park.

The Rangers Supporters Trust (RST), who have a 1.01% stake in the club reacted with dismay to the news, branding it "legalised theft".

In a statement, the RST said: "The RST is taking urgent legal advice regarding this attempt by the board of Rangers Football Club to pass the most prized assets of the club to Mike Ashley. 

"We believe the board may be acting illegally on two fronts and we will be working with any other shareholder who wishes to challenge this. Quite frankly this latest move by the board is legalised theft and we will not stand by and watch it happen. If necessary we will instigate legal action against the directors both collectively and individually."

Number of options

Rangers board have consistently said they would not allow security on Ibrox; a stance reiterated at December’s AGM by chairman David Somers, who said the loan offer from Sale Sharks owner Brian Kennedy had been rejected as he was requesting security on the stadium.

In a statement issued on May 6 last year, they said: "For the avoidance of doubt and so that all Rangers fans are again reassured, the board has stated that it has no intention of granting security over Ibrox to anybody. We have already shown in our actions - and not words - that our stadium is sacrosanct." 

While the board this week rejected US financier Robert Sarver's £20million takeover bid, Ashley still faces competition for control of the club from the Three Bears - wealthy fans Douglas Park, George Letham and George Taylor - and Dave King, a director of oldco Rangers which entered administration in February 2012 before being consigned to liquidation four months later.

Between them they bought up two lots of shares which equate to around 34 per cent of the club and are determined to push for boardroom change. Ashley owns 8.92 per cent of the Scottish Championship club and only last month the SFA stepped in to thwart his attempt to take his holding in Ibrox to nearer 30 per cent.

Sky Sports News HQ understands that as of yet no deal has been agreed on any prospective loan and that the paperwork is being prepared as part of a number of possible options to provide short term finance for the club.

In a statement Rangers said: "The Company notes the recent speculation in the press. The Directors confirm that they are currently considering various proposals to secure the financial future of the club, however no decision has been made at this time."