Newcastle United owner Mike Ashley is reportedly ready to provide a loan of around £10m to Rangers, after filing documents notifying land register bosses that he plans to take out security on Ibrox Stadium.

The 50-year-old businessman, who last month attempted to increase his nine per cent share in the Scottish outfit to 29.9%, also handed over documents outlining his intentions to do likewise with the club's Murray Park training ground.

BBC Sport claims that the 'Three Bears' consortium, which is led by Douglas Park, have offered a counter loan of around £5m which the Gers feel is not enough.

It is also suggested that the board favour a joint-funding package including cash from Ashley, who has already provided £3m in loans.

The documents submitted by Ashley remain valid for 35 days, meaning that he has until February 17 to reach an agreement.

The Rangers board last week rejected an increased £20m takeover bid from Phoenix Suns owner Robert Sarver.