RANGERS fans' chiefs have been forced to cancel a meeting to discuss a possible takeover of the Ibrox club.

Organisers The Rangers Supporters' Trust, blamed a "number of factors" for the decision. As revealed by the Evening Times last week, Ibrox fans were to be given an insight into how they could take control of their club at GersPride.

The meeting, which was to be chaired by Rangers fans supremo David Edgar, was called off as it was revealed Laxey Partners are now the club's largest shareholder.

The hedge fund, based on the Isle of Man, spent £1.3million on more than three million shares in Rangers on Wednesday.

Laxey Partners now own 11.64% and the significance of the deal will be felt at next month's annual general meeting, where a crucial vote is due.

It remains unclear who sold the latest batch, which represents, 5.1% of the shareholding.

However, only Artemis, Hargreave Hale, and Blue Pitch Holdings hold enough stock to sell that amount.

Supporters were to meet representatives from Hamburg - the Bundesliga club which is 100% member-owned - at the conference, which was due to take place on Sunday.

Organisers say they hope to "rearrange at a future date".

In a statement, the Rangers Supporters Trust said: "Unfortunately, Gerspride has been cancelled. Everyone who has bought a ticket has been contacted and refunded."

Hamburg fans' chief Jens Wagner, and representatives from Portsmouth and Swansea supporters' groups, were all due to address the conference.

The German club has around 70,000 members who pay a yearly fee.

Yesterday's transaction is the largest since Rangers International Football Club was listed on the Alternative Investment Market (AIM) last December.

It took place just hours after the Ibrox club appointed a chief executive. Former Manchester City director Graham Wallace takes up the position immediately, although his involvement will be the subject of a shareholder vote at next month's agm.

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