SONS of Struth supremo Craig Houston fears the prospect of severe financial problems at Rangers will force the SFA's hand when they hold crunch talks with the Mike Ashley camp today.

Ibrox chief executive and Ashley's close ally Derek Llambias will meet with the Hampden hierarchy to discuss the billionaire's plans for the Light Blues.

The Newcastle United owner has an agreement that he cannot hold more than 10% of the shares in Rangers International Football Club plc or exert undue influence at the club.

But with Llambias on the board and Barry Leach of Sports Direct working as an advisor, it has been claimed that they have already fallen foul of the Hampden rulebook.

Ashley will need consent from the SFA to increase his stake in next month's share issue, which was granted approval at Rangers' AGM yesterday as Llambias spoke for the first time since his appointment last week.

SoS chief Houston said: "When the board were asked to justify the selection process, we heard tales of head-hunters being brought in to find people.

"Unsurprisingly, the one with a connection to Ashley, who was promised two directors as part of the loan agreement, got the job.

"Rangers fans know why Llambias is there. The shareholders know why Llambias is there.

"The way I see the meeting going, the SFA will either say it is okay for Ashley to have more influence in the club or they won't.

"I suspect if they say he can't, Ashley will tell them that there will be administration soon because he is the sole creditor.

"If that was to happen, the 25-point deduction would likely see us remain in the Championship for one further season.

"It is not a situation I would like, but it is something I can see being used as a bargaining tool by Mr Ashley's representatives."

While Llambias escaped largely unscathed from his first Rangers AGM, the same cannot be said of his board counterparts as chairman David Somers, James Easdale and football board chairman Sandy Easdale came in for a barrage of abuse from shareholders.

The board were situated in a small gazebo in front of the Govan West Corner and Houston admits it was another unsatisfying day for the Light Blue legions.

He said: "It is a sense of total frustration. The questions were again cut short, despite the Union of Fans appealing to the Nomad to make sure that all questions were answered.

"They answered two or three at a time, again despite requests, and showed an utter contempt for fans and shareholders.

"Whoever decided to put Rangers fans in the away section has no consideration for us at all.

"When the chairman was asked why, he shrugged his shoulders and said they were trying to keep us dry. The stage was very far from the fans and the whole set-up was deplorable."

It was controversial chief Somers who bore the brunt of fans' frustrations as he was repeatedly booed and heckled during his speech and the question and answer session.

And Houston has blasted the under-fire chairman for his conduct as fans were left furious at the end of another stormy shareholder summit.

He said: "The contempt shown, particularly by Mr Somers, was an absolute disgrace. To tell Rangers supporters at an AGM 'when you are chairman of Rangers Football Club you can decide what to do' was absolutely abysmal.

"Like a lot of comments, it was made with total disdain in his voice. He was looking at his watch, asking supporters if they had any real questions when they were making very valid points. It was sickening and a man in that position should know better."