CLUB 1872 will look to boost their membership numbers to more than 20,000 after agreeing to buy Dave King's Rangers shareholding.

The former Ibrox chairman has lined up a deal that will see his 20.37 per cent stake in RIFC plc transferred to the fan organisation over the next three years.

The deal will make Club 1872 the largest shareholders at Ibrox and give supporters a defining say in the future of their club as they break through the 25 per cent threshold.

The structure of the arrangement gives Club 1872 three years to complete the purchase - with the opportunity to purchase the entire shareholding prior to December 2021 for a price of 20p per share.

Club 1872 Director Laura Fawkes said: “This is a huge moment for both Club 1872 and the Rangers support.

"We are very grateful to Dave King for his faith in Club 1872 and the Club 1872 Board and for his ongoing commitment to ensuring that the ownership structure of Rangers remains a very healthy mix of wealthy individuals and the wider supporter base.

"As Club 1872 Directors, we are very proud to present this opportunity to the Rangers support. We now need over 20,000 Rangers supporters to take up the baton, join Club 1872 and ensure that the events of 2012 can never happen again.

"It would be a seminal moment for both Rangers Football Club and the supporters if we could achieve the position of being the largest shareholder in Rangers in time for the 150th anniversary of the club in 2022.

"The rebuilding of the Club, largely overseen by the Rangers Board under Dave King’s Chairmanship, has been remarkable - from the position in 2012 to once again challenging for domestic titles and in European competition. Club 1872 can continue to assist with that process whilst ensuring that the wellbeing of the club remains at the centre of decision making in the longer term.

"We fully understand the financial pressures that supporters are under in the current economic climate, and the huge contribution they have already made to Rangers this season through season ticket sales and merchandise.

"But, if they can dig deep one more time and join Club 1872 today as legacy members, then over the next couple of years we can together ensure that the club will remain in safe hands for generations to come."