BRIAN KENNEDY tried to safeguard the future of Ibrox when he made the offer of a £3 million loan to Rangers last month.

But the multi-millionaire businessman's terms were turned down by the club board in favour of a funding package from Mike Ashley.

Kennedy has revealed the details of his negotiations with the troubled SPFL Championship club for the first time.

And it has emerged that, as part of his proposed agreement, the Scot wanted to have the stadium ringfenced so it could only be used for football.

Gers fans, who have been concerned that the Govan ground could be used in an attempt to generate income, would have welcomed the move.

He also wanted Paul Murray to return to the boardroom, the power to appoint an administrator if the club went bust, and security over Edmiston House.

Kennedy revealed he was approached by the former chief executive Graham Wallace. The owner TURN TO PAGE 56