FANS reacted in fury and called for the Rangers board to justify the latest move.
Chris Graham, Union of Fans spokesman, said: "My first reaction is one of anger that the board had an option to bring in long term investment and they have chosen to go with a short-term loan from Mike Ashley.
"It beggars belief. I wish I could say I was surprised at what goes on round that boardroom table but I'm not anymore.
"The board had a decision to make. It is quite clear that Ashley has come in at the last minute. They are going to have to justify their decision at some point.
"They have effectively been bullied by Mike Ashley, but at the end of the day it's indefensible."
Drew Roberton, general secretary of the Rangers Supporters Association, added: "It is not difficult to understand why people have serious reservations.
"It is easy to see why people are concerned about the prospect of Murray Park being sold and Ibrox being sold and leased back.
"How else are the club going to raise the necessary finance? The £2million is not going to last long. And it has to be paid back in six months.
"I am sure there is a grand plan. But what is it?"
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