Ashley eyes Rangers stake

Newcastle owner keen on Ibrox investment

Mike Ashley: Considering buying stake in Rangers

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Sky Sports understands that Newcastle United owner Mike Ashley is in talks with Rangers' Charles Green over buying a stake in the Glasgow club.

When Green bought out the old Rangers and formed the newco, which now plays in the Scottish Third Division, he said that he and his fellow investors did not want any one person to buy any more than 15 per cent.

They are in negotiations with a number of parties about taking a share, one of whom is Newcastle chief Ashley - who after being barracked when he first took charge of the North East giants in 2007, has now moulded them into to one of the most astutely run clubs in the Premier League.

When asked about the possible involvement of Ashley, Rangers manager Ally McCoist told Sky Sports News HD: "Obviously someone with a proven track record like that, who is a successful businessman, would obviously be a good thing.

Ashley to buy stake in Rangers

"I don't know whether it's a goer, how much money is involved, what the investment is and things like that."

Praise

Meanwhile, McCoist has heaped praise on chief executive Green and believes the club is now at its most stable point in some months.

The club won their first home game of the season 4-0 against East Fife on Tuesday and McCoist has praised the commitment of Green and the board.

He said: "I think we're now at the stage where the club has far more stability than we've had in recent months.

"The new owners came in, they were the only party that came up and put their money where their mouths were.

"They stood tall and bought the club so in that respect they deserve great support from us and from the fans.

"I've watched Charles and I don't have any doubt he's watched me in recent weeks. He has absolutely nailed his colours to the mast in terms of his work ethic and the hours he has put it.

"He has done his best for Rangers and fought for the club and represented the club to the best of his ability."

McCoist also revealed his working relationship with Green continues to develop as they both stride to take the club back through the leagues in the coming years.

He said: "I am a firm believer that the most important relationship at a club is between manager and chief executive.

"We are in the very early days but it is growing day by day and we each have a good appreciation of the other's situation within the club.

"We are certainly both of the view that we want to take the club forward.

"It is time for everyone with the best interests of Rangers at heart to unite and get behind the club.

"This is a new chapter for Rangers and we are all looking forward to the challenges ahead. The atmosphere around the stadium has been electric in the past few days and there has been a buzz at the Ticket Centre.

"This is just the start of the journey and we will all enjoy it together."