The Florida-based businessman and fan told The Herald on condition of anonymity he is “working privately” to ensure the money is repaid soon and bridging funding put in place to ensure a transition to create a supporter-controlled entity, similar to Spain’s Barcelona and Real Madrid.

His intervention came as the Ibrox club prepares later today to release its financial results, that are expected to show a loss of up to £8m.

The Glasgow-born entrepreneur, whose identity and oversees business dealings are known to The Herald, added: “This opportunity should be used to implement a new mission statement and business plan for the club and its supporters, to put it on to a long-standing business footing along the same lines as Barcelona and Real Madrid.

“The club is nothing without its supporters, Rangers should never be an ego-trip or piggy bank for any businessman and should not be used as a ‘for profit’ business.”

In the proposal about to be put to Rangers owner Sir David Murray by an English-based specialist finance company, existing bank debt would be replaced with a £30m bridging facility, to be paid down over two years; supporters would invest in Rangers shares over three years, with a target of 15,000 fans subscribing £1000 a year leaving them with a 50% share of the company after three years

The chairman would also be re-elected every 12 months and no individual could own more than 5% of the shares with all profits put back into the club.

South Africa-based millionaire Dave King is still thought to be the likeliest buyer of all or part of Sir David’s controlling interest.