THE Three Bears have hit out at the Rangers board for accepting Mike Ashley's £10million loan - insisting they had made a better offer.
Wealthy supporters Douglas Park, George Letham and George Taylor offered the desperate directors a £6.5million loan.
But Ashley's offer of two £5million tranches was accepted by the cash-strapped club on Tuesday morning.
Chairman David Somers told Sky Sports News that the Sports Direct chief's loan was a "great deal" for Rangers - but the Three Bears disagree.
In return for his loan the cash-strapped Gers have given Ashley another 26 per cent of the Rangers Retail Ltd - putting him in control of three quarters of their retail business.
From the summer of 2017, cash generated from shirt sponsorship deals will go to RRL - rather than the club - until the loan is repaid.
Ashley - who already placed chief executive Derek Llambias and finance director Barry Leach onto the board - will also be allowed to nominate two more directors.