DAVE KING has agreed a deal with Club 1872 that will see Rangers supporters become the largest shareholders at Ibrox – protecting their club for future generations.

King announced his resignation as chairman at the Rangers AGM last November but retained his major stake in RIFC plc as Douglas Park took over at the top table.

But it will now be the Gers fans that have the largest influence at Ibrox after King lined up a move that will see Club 1872 take on his 20.37 per cent stake in Rangers.

The blockbuster deal means Club 1872 – who are currently the sixth largest investors at Ibrox – will surpass the crucial 25 per cent plus one share mark that gives it the power to veto major boardroom deals.

And that means that no one person is likely to ever own Rangers again as the club is protected from the situation that saw Craig Whyte take over at Ibrox following his controversial £1 deal with Sir David Murray.

The departure of King brings an end to his long-running association with his boyhood club as he prepares to sell off his shareholding to his fellow supporters.

King, Paul Murray and John Gilligan saved Rangers from a reviled former Ibrox regime in March 2015 and the South Africa-based businessman has been instrumental in rebuilding Rangers on and off the park.