RANGERS interim chairman Paul Murray has revealed the new Ibrox board will seek to hold talks with Sports Direct magnate Mike Ashley soon.

Murray and his fellow directors have been examining the Glasgow club's books since taking power at an EGM earlier this month.

He revealed this week that the general meeting had cost £300,000 and the SPFL Championship club were paying for all five Newcastle United loan players.

And he also confirmed the club, who have agreed an interest-free £1.5 million loan with The Three Bears consortium, would not accept a second £5 million loan with Ashley.

The oldco director stressed to supporters in an interview with Rangers TV that "there is nothing we have found so far that we didn't expect".

And he confirmed senior club officials would soon be in a position to sit down with Newcastle United owner Ashley.

Many Light Blues followers are refusing to buy official merchandise due to widespread speculation about the agreements with the Sports Direct chain.

But Murray said: "The view of the board at the moment is that we can pursue our own funding solution without having to go back to Sports Direct.

"We have had no discussions with Sports Direct or Mike Ashley so far, but we are happy to engage with Sports Direct and I think we should engage with them.

"They are a nine per cent shareholder with the club and have got commercial arrangements with the club and I think we have to have that conversation pretty soon.

"We will be in a position very shortly to sit down with Sports Direct and Mike Ashley and try and agree a way forward."

Under the terms of a previous £5 million loan, Ashley has security over every Rangers asset apart from Ibrox and also has the rights to appoint two directors.

Murray dismissed claims from former Gers chief executive Charles Green that he could return as the billionaire's representative.

And the interim chairman stressed that the Albion Car Park, Edmiston House and Murray Park were in no jeopardy.

He said: "Under the first £5 million loan he has got rights to do that (appoint two directors). We will have to address that as and when he decides to do that.

"It is normal for any loan to have security, but we don't want to put the club in any danger and if there is an issue with any of those securities at any time we will deal with it.

"The fans should have no fears. We are not going to do anything that will endanger those assets of the club."

Elsewhere, Murray confirmed Rangers were striving to have a new Nomad appointed before April 4 following the resignation of WH Ireland.

He said: "We are in discussions to replace the Nomad. The AIM regulator have to be happy with the company and the procedures around the company.

"We have until April 4 to do that and are working very hard to comply with that timescale."