Mike Ashley has called on the Rangers board to hold an EGM to pay back his £5million loan, it was claimed today.
Mr Ashley, who owns a 9% stake in Rangers has also asked the board to explain why the club has been delisted from the AIM stock exchange.
According to reports on the BBC, if the loan is paid back, the club will regain security over its branding, the Murray Park training ground and the club's retail rights.
Mr Ashley currently holds these rights.
The move came after the Sports Direct owner lost control of the Ibrox boardroom to businessman Dave King, who is awaiting Scottish FA approval to become the club's new chairman.
That followed an EGM called by Mr King in March, when shareholders backed the former Rangers director and his allies.
Paul Murray, who was named interim chairman, was this month cleared by the SFA to become a director of the Scottish Championship club.
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