David Longmuir has been out of the game since losing a vote last July to become chief executive of the newly formed Scottish Professional Football League to former SPL chief Neil Doncaster.
The board, comprising finance director Brian Stockbridge and James Easdale along with his brother Sandy, are thought to be examining the recruitment of Mr Longmuir.
He was perceived by supporters to be sympathetic towards the club during its financial meltdown last year.
Mr Longmuir was unavailble for comment last night.
The news emerged as fans left a summit with a group led by engineering tycoon Jim McColl and former director Paul Murray convinced they were the men to take control of the club.
Mr McColl and Mr Murray have been pressing for changes in the way the club is run for months, with the latter seeking a seat on the board.
Former director Mr Murray won a ruling at the Court of Session barring Rangers from pressing on with an annual general meeting. After that decision last week, chief executive Craig Mather resigned.
Members of the Rangers Supporters Assembly, association and trust left impressed with what they heard.
Assembly president Andy Kerr said he felt the majority of fans were behind the pair.
He added: "We were quite happy with what we heard from Jim McColl and Paul Murray and the key now is to communicate that information and we have arrangements in place to do that.
"We will put it together in a question and answer format tomorrow.
"The timeline is understanding when the AGM takes place because that is going to be the pivot for all of this.
"We heard that a board is ready to go in and that a CEO and financial director are lined up and that was good to hear because it was something that was causing us anxiety as fans."
Meanwhile, Dave King is expected to fly into Scotland today for talks with Mr McColl and Mr Murray, as well as the current board.