Rangers manager Ally McCoist voices support for potential investment from Newcastle United owner Mike Ashley

• Ibrox manager McCoist backs Mike Ashley as having strong “business pedigree”

• Rangers confirm 20, 000 season tickets sold so far

The London-born businessman has reportedly been in discussions with the Govan side’s chief executive Charles Green over purchasing a ten per cent stake in the club.

A merchandising deal with Ashley’s sports firm Sports Direct is also believed to be under discussion.

He told the Daily Mail: “If Mike Ashley is interested in investing in Rangers, then the fact of the matter is he looks to be a very successful businessman.

“It would be great to have people of that pedigree contributing towards the club moving forward.

“I don’t know enough about any proposed deal but I know Charles Green has been in meetings for two or three weeks now and I’m led to believe they have been successful meetings.”

Under previous owner Sir David Murray the club sold ten years of retail rights to sportswear firm JJB in 2006 for £48m.

Rangers fell into liquidation in June this year after failing to reach a deal with creditors.

It is understood that the club first has to resolve outstanding issues relating to its former contract with JJB Sports that it signed in 2006.

A JJB spokesman said: “JJB does have a commercial agreement with the current owners.”

The Rangers manager said yesterday that over 20,000 season tickets have been sold for the club’s upcoming Division Three campaign and also confirmed his backing for Rangers chief executive Green.

Following the Yorkshire businessman’s takeover, reports emerged that McCoist was ready to quit due a “mistrust” of the new regime.

McCoist said: “Charles Green and I are still at the early stages of our relationship but his work ethic can’t be faulted and I’ve been impressed by his willingness to fight the corner of the club.”

Both Rangers and Mike Ashley refused to comment.