Rangers Football Club are closing in on a £2.5million re-naming rights deal with Sport Direct owner Mike Ashley.

It is set to be finalised later this week despite many fans opposing any attempt to rename Ibrox.

A softening of opinion within the club and a desire to increase its revenue has paved the way for the deal which, under the terms, is broken down to an initial £1.5million payment which would rise upon the achievement of various targets.

Most staunch supporters, together with team manager Ally McCoist, have insisted that Ibrox must remain in the renamed stadium’s title.

Posted on 14/01/2013