The positions of Mr Green and his commercial director Imran Ahmad were discussed at length by the directors last Saturday morning in a three-hour board meeting at the club's training ground, Murray Park in East Dunbartonshire.

There was not enough support around the table for Mr Green and Mr Ahmad to be forced out. However, there was an agreement to commission an independent examination of media stories concerning last summer's takeover and their "management" of the club.

After an afternoon of speculation, Rangers posted a statement on their website this evening which read: "Charles Green has notified the board that he wishes to step down as chief executive with immediate effect.

"Recent weeks have seen media interest in the circumstances surrounding the period prior to the acquisition of the club by the consortium led by Mr Green. 

Last Monday, St Mirren confirmed that they will vote against the proposals for a 12-12-18 set-up, meaning that only one other no vote amongst Scottish Premier League clubs will block the plans.

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