Rangers have launched a new multi-million pound legal action against a number of the club's former directors and billionaire businessman Mike Ashley.

Lawyers acting for the recently promoted SPL side allege that Charles Green, Imran Ahmad, Brian Stockbridge and Derek Llambias acted negligently during their time at the club.

The Glasgow team believe the men failed to act in the club's best interests when they negotiated commercial deals with Ashley's firm Sports Direct.

The deals which the club are objecting to include an October 2012 agreement in which the directors allowed Sports Direct to have the naming rights to Ibrox stadium.

In November 2014, the club also entered into a partnership marketing agreement with Sports Direct which allowed the business advertising space at Ibrox stadium.

The club's current management believe that Sports Direct paid £1 for each deal, which they say was well below market value.

They also believe that Mr Ashley unfairly benefited and assisted from the alleged negligence displayed by Mr Green and his colleagues.

Now the Ibrox side is suing Mr Green, Mr Ahmad, Mr Stockbridge, Mr Llambias, Sports Direct and Mr Ashley in the Court of Session in Edinburgh.

They want to recover a total of £4,106,470.83 from the action and also want a civil judge to declare the partnership marketing agreement void.

Lawyers acting for the individuals being sued by Rangers denied any wrongdoing. The case is expected to call before court sometime in the coming weeks.