Rangers investor Sandy Easdale has released a statement distancing himself from Media House spin doctor Jack Irvine.
It follows allegations that Irvine was the leak who last week revealed the club is considering a fresh share issue in a bid to raise £8million of much-needed cash.
Former newspaper editor Irvine has provided advice on media relations to Easdale and brother James as part of an arrangement with their McGill's bus firm.
But he has also worked for Rangers at various spells over the past five years.
However, Easdale - who is chairman of the club's football board, but is not a PLC director - said: "I wish to confirm that neither Media House International Ltd nor its executive chairman Jack Irvine acts for me or any of my associated companies.
"Indeed Mr Irvine and I severed our business relationship on August 23, 2013, when Mr Irvine renewed his contract with Rangers Football Club."