AGM

TYCOON Mike Ashley today tightened his grip on Rangers as one of his closest allies was named as the club's new chief executive.

Derek Llambias, 58, was revealed as the new Ibrox chief in an early morning statement to the stock exchange.

It comes as Newcastle United owner Ashley and Rangers were accused of breaching Scottish FA rules on dual ownership.

And this latest twist in the Ibrox saga will no doubt inflame the club's already tense relationship with the SFA.

Hampden chiefs want to quiz Sports Direct tycoon Ashley over claims he has broken his undertaking not to influence the day to day running of Rangers

As reported by the Evening Times, on Monday the SFA's compliance officer issued both Rangers and Ashley with a notice of complaint and hearings were set for January 27.

The chief executive announcement comes just three days before Rangers' AGM.

Llambias, a former managing director of Newcastle United, joined the Ibrox board as a non-executive director in November.

In a statement to the London Stock Exchange, Rangers said: "In line with the cost-cutting exercise announced on 12 November 2014, Mr Llambias' remuneration will be significantly lower than previously offered for this position."

Earlier this week, Rangers accepted Ally McCoist's resignation, but then got nasty by revealing his immediate 50% pay increase.

Despite talks with Sandy Easdale and Llambias, McCoist will continue preparing as normal for Rangers' Scottish Championship game against Livingston tomorrow.

However, it is unclear what will happen after the match.

Chairman David Somers said today: "I am delighted that Derek has agreed to step up to the chief executive role.

"This is a successful outcome to the process, announced on 27 October 2014, which involved interviewing a number of high-calibre candidates.

"Derek has impressed us with his grasp of the issues since joining the group and brings a wealth of experience, particularly from his time at Newcastle United, which we feel confident will be invaluable to Rangers."

The notice of complaint, which has been issued, alleges that Rangers have breached rules 1 and 77, while both the club and businessman Ashley have been charged for contravening rule 19.

Ashley, risks a £10,000 fine if he fails to have the charges dropped.

The businessman, who owns around 9% of the shares in Rangers, has an agreement with the SFA not to control more than 10% of the Light Blues.

But he increased his influence at Ibrox earlier this year when he agreed a £2million emergency loan.

If found guilty, Rangers could face a range of punishments that include a censure, fine, being thrown out of the Scottish Cup, a transfer ban or even having their membership of the SFA terminated.

Union of Fans spokesman Chris Graham told the Evening Times: "I am not fan of the SFA for the way they have treated the club over the last few years.

"But there was never going to be any other outcome than this one after Ashley was handed control."