THE £10million loan that Rangers agreed with Mike Ashley this week clearly isn't the best deal for the Ibrox club.

It's the best deal for Mike Ashley.

You would like to have thought that the Light Blues board would have acted in the best interests of all of their shareholders in this decision.

I don't doubt for a second that if they had consulted all of them about this agreement, then the majority would not have approved the terms.

Now, I'm not a business expert by any means, but I'm astonished they have been allowed to do this, to be honest - especially with an EGM looming in the weeks ahead.

The Three Bears consortium has now revealed that they offered more money than the £5.5m they initially put on the table - up to £10m, in fact.

But they were informed they would have to give assurances they would vote against the resolutions to remove the directors at the general meeting that Dave King has called.

They refused to agree to that - so there was no way the board was going to go for them.

The directors are just looking after themselves - and the business interests of the Newcastle United owner.

It was pretty obvious that self-preservation is the priority in the email that chairman David Somers sent to Sports Direct that was leaked last month.

But how are the club going to generate income in the future as things stand from shirt sales and sponsorship deals? It pretty much all goes into Ashley's back pocket.

That is why a group of Rangers fans have brought out their own strips - which supporters are snapping up in their droves.

The English businessman has got his hands on everything - bar Ibrox. And there is still speculation the stadium could be next to go. How is that a good deal for the club?

Ashley now has security over the Albion car park, Edmiston House and Murray Park.

He has control of Rangers Retail Limited as well. He will get another two men on the board. He is no doubt delighted.

And why wouldn't he be?

He has got a pretty sweet deal just for lending the club some more money.

Crucially, though, one thing he doesn't have is more shares. He still just has 8.92%.

And King, the Three Bears and other like-minded stakeholders are confident they have the support they need to oust this regime at the EGM.

It is now up to them to drum up enough support with the rest of the shareholders at Rangers.

I would expect Dave to come to Scotland in the days ahead and speak to fans, institutional investors and other interested parties.

There is going to be a lot of lobbying on both sides. The present board will be communicating with the shareholders who are on their side, too.

But I am confident the resolutions will be carried.

If there is a change of board the first thing the new directors will do is try to pay off the loans.

Hopefully, they will get Ashley out of the way early.

I am sure there are Rangers people waiting in the wings who are willing to invest, buy shares and take the club forward.

As we saw at the Fernando Ricksen Tribute match at Ibrox last Sunday, there are Rangers fans who are desperate to get back and support their team.

If there is change at the top level, which I am convinced there will be, I think they will come back in their tens of thousands.

There was a proper football atmosphere, and it took me 90 minutes to get to the stadium rather than the usual 20 minutes.

It was unbelievable. People were desperate to be there to support Fernando first and foremost, and also to see all of the former players in action.

I am sure many of them wanted to be back in the ground again because they won't have been there in some time.

The 40,000-plus crowd was magnificent. Derek Llambias, the chief executive, was in the stand, and it showed him the potential of the club.

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