SFA chief Stewart Regan wants to meet Mike Ashley to better understand Newcastle owner's position at stricken Rangers

• e-mail

Stewart Regan wants to meet Mike Ashley face to face to discuss his plans for Rangers amid growing concern about the stricken club.

The SFA chief executive admitted on Tuesday that the governing body are monitoring the current situation at Ibrox - and that, following recent dialogue with the Ashley camp, he is seeking talks with the Newcastle owner.

The Londoner had two of his representatives, former Newcastle managing director Derek Llambias and Sports Direct executive Barry Leach, installed at the club after loaning Rangers £3million. He currently owns around nine per cent of the troubled Glasgow giants.

The SFA are monitoring the current situation at Rangers and want to meet face-to-face with Mike Ashley

‘We’ve been in regular dialogue with Mike Ashley’s lawyers through MASH Holdings,’ said Regan. ‘It’s still ongoing at the moment, we are still in dialogue.

‘The next stage is to meet with Mike and his advisers and obviously get some clarification around some of the concerns we have got.

‘We have a situation in our articles which prevents dual interests in football clubs. We gave Mike Ashley the ability to have up to 10-per-cent shareholding in the club.

‘As part of that, there was a commitment there would be no management or influence at Rangers Football Club.

‘Clearly, we want to have a better understanding of his position in that regard.’

SFA chief executive Stewart Regan has some concerns over Ashley's role at the club after his £3m loan

SFA president Campbell Ogilvie revealed at the start of the month that they had written to Sports Direct billionaire Ashley looking for information regarding his involvement.

At present, Rangers are not thought to have the funds required to see them through to the New Year and must also have their accounts signed off by the end of the week if they are to make the deadline to call their agm for next month.

With a round of redundancies have already taken place, there is little doubting the club are deep in troubled waters and Regan is keen to establish what exactly is going on within Ibrox.

Jason Holt celebrates as Hearts beat Rangers 2-0 to go nine points clear in the Scottish Championship

‘Well, obviously it is concerning for the Scottish game,’ he continued.

‘We would all like to see Rangers improve their financial position in order to bring money to the game of football in Scotland.

‘Rangers have got a strong economic impact, not just for Glasgow but for Scotland, generally.

‘In that regard I know the fans are desperate to see success again. They are desperate for stability.

‘They’ve had a number of years of ups and downs now and I think they are hopeful they will get some certainty and stability in the future.’