A fund for Rangers fans to collate season ticket money while putting pressure on the board has been launched.

The scheme has been devised by former oldco Rangers director Dave King and the Union of Fans, which represents the main Rangers supporters' groups, amid disenchantment with the club board.

The website for new company Ibrox 1972 Ltd says it has been "created as a vehicle to allow fans to commit their season ticket money to try to get security over Ibrox and ensure that it cannot be used by the current Rangers board for any other purpose".

King and former Rangers captain Richard Gough have been named as the two current directors.

Fans who participate in the scheme will pledge their money but organisers say payment will only be taken, from July 15, if Rangers provide security over Ibrox in return. If security has not been granted by August 8 then instructions will be cancelled.

The group has acted amid ongoing financial problems for the club and complaints over the performance and behaviour of directors.

Chief executive Graham Wallace recently revealed the club had "mismanaged" almost all of the £70million they had raised in less than two years.

Wallace last month admitted the club would be unable to trade in the short term, without seeking additional external funding, if they suffered a significant decrease in season ticket sales, although he declined to be more specific on figures. Rangers sold about 36,000 season tickets for their successful League One campaign.

Left-back Lee Wallace is the club's main playing asset should they hit further financial trouble, but he reiterated his commitment to Rangers after winning the internal player of the year awards.

Rangers rejected an offer from Nottingham Forest for the Scotland international in January and Wallace, one of the few experienced survivors from the pre-liquidation playing squad, is focused on their Scottish Championship title bid.

The former Hearts player told the club's official website: "I knew some of the boys at Rangers when I first came into the club and they always spoke about the bug you get here.

"It didn't take me very long to get that. I maybe didn't grow up as a supporter but I certainly knew all about Rangers and I know all about them now.

"I know what the club means to the fans and what the traditions and history of the club mean to people as well.

"It was part of my plan that I wanted to stay here and I want to do that for a very long time and be part of a unique part of the club's history.

"We're in uncharted waters just now as a club and it's a big aim of mine to become successful with Rangers because that's what we're about as a club.

"I'm really enjoying things and I'm ready for any challenge we face. We knew that coming up from the Third Division, League One might be a bit harder this year.

"We expect another step up next year and the Championship is probably going to be a bit more of a challenge with the type of opposition we'll have.

"It's a league we are certainly ready to go and win and dominate. We are Rangers and that's exactly the situation we want."