Llambias set to take Rangers reins

Former Newcastle director of football Derek Llambias is due to fly into Glasgow on Monday night to begin work at Rangers, it is understood.

Llambias’ expected arrival follows confirmation that a £2m loan from Newcastle owner Mike Ashley has been accepted by the Scottish club and is another indication of Ashley’s increasing influence at Ibrox.

Graham Wallace’s resignation as chief executive was confirmed this morning, just two days after failing to stop Ashley tightening his grip on the Glasgow giants.

The League One champions confirmed former Manchester City executive Wallace’s departure in a 7am statement to the Stock Exchange.