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

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

George Letham, Douglas Park and George Taylor bought 13.29 million shares from Laxey Partners on Wednesday.

That £2.3million outlay gives the trio a 20% stake in the troubled Glasgow giants.

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

Rangers football board chairman Sandy Easdale has reacted positively to their investment.

And Easdale, who holds proxy voting rights for Blue Pitch and Margarita and has controls 27.15% of the club, has welcomed the prospect of talks.

Together with Mike Ashley, who is effectively running Rangers after lending them £3million 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 in the Rangers power struggle.

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

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: "It hasn't been discussed, but if any group, The Three Bears or any other group, brings 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 Letham, Park and Taylor snapped up the block of shares owned by Isle of Man-based hedge fund Laxey.

Several hundred Light Blues followers signed up to Rangers First the same day and there are now over 2,000 contributors to the scheme that now owns around 0.8% of the club. Buy Rangers, which is run by the Rangers Supporters Trust, currently owns 0.86% of the club and has also received a flurry of interest in supporters in the last week.

Spokesman Chris Graham said: "George Letham is on the board of the Trust and is a contributor to Buy Rangers.

"We have a very close relationship and have been in the trenches together. There is no question we would look to work closely with him."

The Rangers Supporters Trust has been selling alternative red and black shirts and lion's brand shirts in the run-up to Christmas and will invest the money made in shares in 2015.