Rangers fans fighting a bid by the Ibrox club to use the stadium as security on a £10 million loan from Mike Ashley today claimed a major victory.

The Rangers Supporters Trust have secured the financial backing of the Rangers Fans Fighting Fund in the ongoing battle to secure the Govan ground.

Concerned Rangers followers raised £600,000 back in 2012 after the Glasgow giants were put into administration by former club owner Craig Whyte.

Some of that money was used to pay outstanding football debts to both Dunfermline and Falkirk and also to relay the Ibrox pitch.

But there is still £500,000 in the fund - and that cash will now be used to launch a legal challenge if the board allow the stadium to be used as security.

Rangers fans reacted with outrage when it emerged Sports Direct tycoon Ashley wanted Ibrox and Murray Park as security on another loan to the SPFL Championship club last week.

The so-called Three Bears consortium has offered to loan the stricken Light Blues over £5 million - and have not asked for the stadium to be used as security.

Thousands of supporters staged a protest at the front door of the stadium before the league game against Hearts on Friday night and called for the board's removal.

Trust spokesman Chris Graham welcomed the development and warned directors and the club's nominated advisor their every move would be subjected to intense scrutiny.

He said: "We are delighted the Rangers Fans Fighting Fund(RFFF) has thrown its considerable finances and influence behind the RST's continuing fight to ensure Ibrox remains under the control of the club.

"We would like to thank the RFFF for doing so. There is now a substantial legal fund available, should it be required, to fight any attempt by this board to pass security over Ibrox to Mike Ashley. We will work closely with the RFFF going forward to ensure every avenue is explored.

"The RST is not taking this action for the benefit of only its own members but for every Rangers fan and fan group. The RFFF represents a time when all Rangers fans were 100% united in one cause and the board should be under no illusions that we are again.

"We are delighted to provide the necessary legal standing, through our shareholder status, to enable Rangers fans to fight for our spiritual home."

Graham added: "Derek LLambias, Barry Leach, David Somers and James Easdale should be under no illusions that we will examine every available legal remedy to stop them passing our club's assets to Mr Ashley.

"They are, in our opinion, neglecting their duties to the club, the fans, the PLC and its shareholders in order to do Mr Ashley's bidding.

"There will be a forensic examination of the directors' actions and also the actions of Paul Shackleton and Adrian Hadden at the Nomad, WH Ireland.

"It is our understanding that they would have to agree to, and sign off, the granting of a security over Ibrox and we maintain that proper levels of corporate governance are not being adhered to. Should they sign off such a move we will also examine all remedies against them.

"We thank all Rangers fans for their continuing support in this fight."

Meanwhile, the London branch of the Rangers Supporters Association today launched an online petition calling for Nomad WH Ireland to accept the EGM Dave King has called for.

Rangers revealed on Monday they were examining whether the move is legal - and have said they will ask King to withdraw the notice to save the club money if it is.

The South Africa-based businessman wants to remove the entire board and install himself, former director Paul Murray and supporter John Gilligan as directors.

And RFCSA London wants the Nomad to accept the notice and is asking their fellow fans across the world to lend their weight to an petition that was put up online today.

The petition reads: "The notice by New Oasis Asset Management Limited (King) is entirely legitimate in its aim to remove the current directors & replace them with those of both sound business acumen & Rangers blood.

"Make no mistake, this petition will be delivered by hand by we, the people, the official Rangers FC supporters presence in London - the RFCSA London - on behalf of the wider Rangers support & stakeholders.

"We implore WH Ireland Limited to abide by your legislative & fiduciary duty & issue the EGM notice as soon as possible."

Meanwhile, the Easdale brothers have hit back at Paul Murray after he gave an interview to the Daily Record comparing the Ibrox board to Gerald Ratner, the infamous jewellery boss who sank his own company when he admitted his products were "total crap".

Former oldco director Murray has joined forces with Dave King to call a general meeting to vote out the current regime.

However, Jack Irvine - spokesman for Sandy and James Easdale - responded by claiming Murray was part of the Ibrox board which sold the club to Craig Whyte for £1 in May 2011.

Irvine said: "So like an episode of The Living Dead, Paul Murray emerges from his borders lair having vowed never to return. He says he expects a smear campaign against himself and Dave King and in the same breath compares the Rangers board to Gerald Ratner. Hypocritical? You decide.

"If Mr Murray and Mr King ever do get anywhere near the club they are welcome to carry out a robust financial investigation. The Easdale brothers have never taken a penny from the club and nor have they claimed any expenses.

"One begins to wonder if we are not dealing with Paul McKenna as opposed to Paul Murray, who appears to have hypnotised himself and his cohorts into obliterating the memory fact that they sold their beloved club for One Pound. Rangers men? You decide."

In fact, former Deutsche Bank executive Murray launched an eleventh hour bid to persuade former owner Sir David Murray against the Whyte deal.

Forecasting the liquidation crisis which just over a year later brought the Glasgow giants to their knees, he said at the time: "In my opinion, Craig Whyte has not adequately demonstrated what his strategy is for managing and funding a negative outcome on this matter."