Rangers have promised to probe claims Mike Ashley has grabbed control of the club 's badges . Reports emerged on social media on Thursday afternoon suggesting the Newcastle United owner was now the official owner of the Light Blues trademarks - including the 'Ready ' badge and mascot Broxi Bear . The Sports Direct tycoon had been given security over the icons and logos as part of the £5million loan handed to the previous Gers board in January . Rangers have promised to probe claims Mike Ashley has grabbed control of the club 's badges . Reports emerged suggesting the Newcastle owner was now the official owner of the Light Blues trademarks . But now Dave King 's new regime have promised a speedy investigation after documents appeared on the government-run Intellectual Property Office ( IPO ) website showing the club 's trademarks were now controlled by SportsDirect.com Retail Ltd . In a statement a club spokesman said : 'The board is currently conducting a review of all contractual documentation but this particular issue has become a matter of urgency . ' News that Ashley has seized hold of more treasured assets will worry the Ibrox faithful . The Londoner is already vastly unpopular after grabbing hold of a 75 per cent share of the club 's retail income with his loan deal . Dave King 's new regime have promised a speedy investigation into the claims surrounding Ashley . The IPO site confirm the transfer from Rangers Football Club Ltd to Sports Direct was fully assigned on March 25 - less than three weeks after former chief executive and Ashley ally Derek Llambias and finance director Barry Leach , a former Sports Direct executive , were removed at a general meeting called by King . Yet Interim chairman Paul Murray announced two days later that the new board had held 'no discussions with Mike Ashley or Sports Direct ' . Rangers announced last week that if they gain promotion to the Premiership , they will have to pay Newcastle £500,000 as part of the deal which saw five Magpies youngsters move to Ibrox on loan . Ashley was given security over the icons and logos as part of the £5m loan handed to the previous board .
Reports emerged on social media that Mike Ashley was now the official owner of the golden Blues brand . Rangers have promised to investigate the allegations . Ashley was given control over the icons and logo as part of the £ 5 million deal .