Rangers to investigate claims that Mike Ashley has taken over club's badge

Rangers have confirmed that they will investigate reports that Mike Ashley has seized control of the club's badges as "a matter of urgency".

Reports emerged earlier today that the Sports Direct and Newcastle United owner had taken hold of a number of trademarks associated with the Scottish outfit.

Ashley was given security over the icons and logos as part of the deal that saw him lend the club £5m in January, but concern has arisen due to a website showing that the trademarks were now owned by SportsDirect.com Retail Ltd.

"The board is currently conducting a review of all contractual documentation but this particular issue has become a matter of urgency," read a statement from the club.

Rangers are currently third in the Scottish Championship table, 26 points adrift of champions Hearts.