Mike Ashley has sold his shareholding in Rangers, with the club's largest supporters' group buying half his Ibrox stake.
The news comes two days after Rangers chairman Dave King brokered a pact with the Sports Direct chief that provides the Ibrox club with a new £5 million-a-year retail deal.
Ashley's firm MASH Holdings Limited bought an 8.9 percent stake in Rangers International Football Club Ltd (RIFC) when the company was floated by former chief executive Charles Green in 2012.
But he has now sold a 4.46 percent tranche to fans' group Club 1872 with the rest bought by Julian Wolhardt, chief operating officer of Hong Kong-based Dehong Capital Partners.