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BBC Scotland has learned a consortium including businessman George Letham has bought 16% of Rangers from the investment group Laxey Partners.

The group, which also includes shareholder George Taylor and Douglas Park, recently offered to invest £6.5m through a new share issue.

They have bought 13m shares at 20p each and are now the group with the single largest shareholding at the club.

Rangers recently revealed they need £8m of new funding to stay afloat in 2015.

Letham has already loaned the Scottish Championship club money.

Park, who owns coach firm Parks of Hamilton, is one of Scotland's most successful businessmen, and Taylor currently owns 3.2% of Rangers.

http://www.bbc.co.uk/sport/0/football/30644025

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