Rangers have been fined £5,500 by the Scottish Football Association for admitting two breaches of rules in relation to Mike Ashley's shareholding controversy.

The club has been punished more than one month after Ashley was fined £7,500 for breaking dual-ownership rules.

The businessman, who owns Premier League club Newcastle United, was deemed to have had undue influence over Rangers, despite having less than a 10% share at Ibrox.

In relation to today's fine, Rangers have released a statement on their official website, which reads: "The club has today accepted a £5500 fine for breaches of the SFA's Disciplinary Rules 1 and 19. They relate to historic events around the time the MASH credit facility was put in place."

Ashley remains a shareholder, but has no control of the club since Dave King and his consortium took over.