Richard Gough and Alex Rae have become the first two former Rangers players to back a scheme that could hand the club's fans power at Ibrox.
Representatives of the club's support have been invited to hear a presentation from Supporters Direct Scotland on how they could set about launching a bid for "greater fan ownership".
SDS has already helped supporters of Dunfermline and Hearts successfully arrange deals to take control of their clubs and believe the Rangers faithful could be the next to grab a greater say in how their club is run.
They will discuss the vision at a meeting at the Louden Tavern, Ibrox, on February 14 and have already won the backing of nine-in-a-row captain Gough.
The former Scotland defender said: "The fans are the heart and soul of Rangers and one sure way to guarantee that this remains the case at Rangers forever is for the fans to collectively have more power in the club.
"As we are a PLC, fans collectively owning shares is in my opinion one way to ensure this, and the more they own the louder their voice."
Former Gers midfielder Rae, who helped the Glasgow giants land the 2005 Scottish Premier League title, has also indicated his support.
"When I go to Ibrox I hear the Rangers fans singing 'Four men had a dream' about the men who founded the club," he said.
"Well, the many thousands of Rangers fans can now make that dream a reality again by gathering together with the single issue of collectively owning their club.
"That is why I look forward to hearing what comes from the meeting of the 14th and look forward to supporting the next step."