RANGERS fan ownership groups are set to throw their support behind The Three Bears consortium in the escalating battle for power at Ibrox.

And they could be joined by Walter Smith and Ally McCoist in the latest twist to the club's game of thrones.

Backing for the three wealthy businessmen is growing after they became the major shareholders in Rangers this week.

George Letham, Douglas Park and George Taylor snapped up 13.29million shares from Laxey Partners on Wednesday. That £2.3million outlay gives them a 20% stake in the club.

That could be set to increase as they have offered to underwrite a future share issue to the tune of £6.5m.

Rangers football board chairman Sandy Easdale, who holds proxy rights for Blue Pitch and Margarita and controls 27.15% of the club, has welcomed the prospect of talks.

Together with Mike Ashley, who is effectively running Rangers after lending them £3m to keep them afloat, they have a 36.07% stake.

But the Three Bears, who are looking for two places on the board, have already received pledges of backing from significant players.

Former managers McCoist and Smith, who together own over three per cent of Rangers, are both believed to be supportive of The Three Bears group. McCoist proxied his one million shares to his local Rangers supporters' club - Calderwood Loyal in East Kilbride - before the 2013 AGM.

Elsewhere, the Rangers fan ownership schemes BuyRangers and Rangers First are also open to the prospect of backing the group.

A Rangers First spokesman said: "If The Three Bears bring a proposal and seeks the support of the shares of Rangers First then we would put it to a vote of our members."

Rangers First, which asks fans to contribute a monthly fee, has received a flurry of support since the three men snapped up the block of shares owned by hedge fund Laxey. Buy Rangers, run by the Rangers Supporters Trust, currently owns 0.86% of the club and has also received a surge of interest in supporters in the last week.

Spokesman Chris Graham said: "George Letham is on the board of the Trust and a contributor to Buy Rangers. There is no question we would look to work closely with him."