Former Rangers chairman Alastair Johnston believes a "cancer is spreading throughout the club" which will not go away until "self-serving investors" are rooted out.

The Ibrox club, who re-emerged into the Irn-Bru Third Division last year after their descent into administration, face another summer of uncertainty due to a complex boardroom power struggle.

Rangers confirmed to the London Stock Exchange today that they were considering an official request to hold an extraordinary general meeting.

The resolution calls for James Easdale and Chris Morgan to replace chairman Malcolm Murray and non-executive director Philip Cartmell on the board.

Morgan was named as one of the original investors when a consortium fronted by Charles Green purchased the assets and business of the club in June last year while Easdale recently confirmed, along with brother and business partner Sandy, that they were looking for boardroom presence as they continued to increase their shareholding.

Another Rangers shareholder, Blue Pitch Holdings, are also said to be behind the proposed boardroom coup.

Johnston, who was ousted in May, 2011 by then owner Craig Whyte, "has concerns" about the jockeying for position at the club he has supported all his life.

"There is a cancer spreading throughout the club and it's not going away," he said.

"My concern is that until self-serving investors are eliminated then the club can't go forward.

"With so many investors - in quotation marks - trying to play an active role in the guidance of Rangers Football Club, I don't think that is a healthy situation.

"I don't know the people involved but I really wonder about their agenda. I really wonder in whose best interests are they working.

"A lot of people can say they have the best interests of the club in mind but it is easy to say that.

"There are people vying for control and influence and they have got to lay down their ambitions and be transparent about finances and investment.

"The board of Rangers - whoever it is and however it is constituted - has to come out and be transparent about the assets and the commitments and what that will mean to investors.

"What has been promised to investors?

"There is a power vacuum and there hasn't been one in 140 years at Ibrox. Someone has to come out and show guidance.

"Until the supporters can see a line-up of people that they can get behind then they have a dilemma.

"At some point somebody has to say to the fans we want you to spend money and here is what we're going to do."

While many Gers fans are taking succour from the fact that former manager Walter Smith is on the board, and by proxy acting in the fans' best interests, Johnston put the Ibrox legend's position in context.

"Walter's presence is very important, symbolically," he said. "He is back because he loves the club.

"He has the history, the passion and the credibility but by his own admission he isn't a businessman.

"He has a good gut-feeling about people but there is only so much he can do. I think things will get sorted.

"Rangers Football Club is a massive institution and its strength is that there are hundreds of thousands of people who are not going to leave the club.

"The basic fabric of the club will ensure survival but it will need transparency for that to happen."