Rangers' own in-house fan group has called on chief executive Derek Llambias and chairman David Somers to come clean after it was revealed Mike Ashley is preparing to take out security on Ibrox and Murray Park.
The Newcastle United owner is willing to hand the club a £10million loan but wants the club's historic stadium and training ground as collateral.
And he now has 35 days to agree terms after lodging documents with the Registrars of Scotland which prevent anyone else from using them as guarantees.
The Three Bears - wealthy fans Douglas Park, George Letham and George Taylor - have offered to increase their existing £5million loan offer if it keeps both properties out of Ashley's grasp.
But directors Llambias and Somers are under pressure to spell out their plans.
The Rangers Supporters Trust have already threatened legal action.
Now the Rangers Fan Board (RFB) - the club's official supporter liaison group, set up by former CEO Graham Wallace - has told the board it will never back moves to mortgage off Ibrox.
Their statement said: "The RFB are today insisting on clarity from Rangers Chief Executive Officer Derek Llambias and Chairman David Somers following revelations that Ibrox and Murray Park could be used as security in return for additional funding.
"RFB would like to state that we will never support any moves which could see Ibrox, or the training complex used in this manner.
"We have already requested information from Mr Llambias as to the Board's intentions in regard to the Mike Ashley loan offer and so far the CEO has said: 'At this moment in time there has not been a deal done with anyone with regard to loaning the club funds. We are in talks with a number of parties and hopefully an announcement will be made shortly with this effect to the Stock Exchange.'
"An announcement was subsequently made but it did not come close to clarifying the situation and that is why we are pushing for a meeting with the CEO and Chairman.
"We need a categoric assurance that our stadium, which is hugely symbolic, a monument to what this club means and which is also a place of treasured memories will never be used as security.
"It is alarming that advance notices of security were lodged with the Register of Scotland on Tuesday, January 13.
"We must stress again that we would strongly oppose the securitisation of Ibrox. The very notion fills us with dread and since RFB was brought into being to bridge the gap between supporters and the Board we believe it is incumbent upon the directors to meet with us as a matter of urgency."
Meanwhile, fan-ownership campaigners Rangers First have contacted the club's nominated advisor WH Ireland to spell out their concerns.
They said in a statement: "The Rangers First board have written to RIFC's NOMAD to express some of the concerns that have been voiced to us by members over the last 24 hours.
"First, we expressed our deep concern about a notice of intention to grant security being lodged over Ibrox.
"Granting such a notice, at a time when shareholders have been assured that RIFC are currently considering various proposals, seems to be providing the party in whose favour the notice has been granted with an unfair advantage whilst, at the same time, prejudicing the ability to advance discussions with other potential providers of funding.
"We advised that we couldn't see how that was in the best interests of shareholders and requested an urgent explanation.
"Secondly, we indicated that we had been inundated with requests from members to take every possible step to prevent security being granted over Ibrox and advised the NOMAD that we were completely opposed to any proposal which involves security being granted over Ibrox to a lender and that our concern would not be mitigated by any undertakings or covenants granted alongside that security.
"We would call on every shareholder to contact RIFC's NOMAD in similar terms to ensure the NOMAD is aware of the weight of shareholder opinion on this issue."
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