Rangers Chief Executive, Charles Green was more cautious saying:
"I don't think Mike needs to throw (money into the club) and that's not the model that I think is sustainable for any football club and not Rangers," Green said.
"What Mike will do, subject to all the agreements going through, is bring the might of Sports Direct and that in itself, in my mind, will bring £5-10million a year from merchandise in revenues back into the club.
"That is far, far more worthwhile than Mike individually signing a cheque because that's not the right way to run football clubs.
"It's about sustainability, it's about continuing revenues, it's about brand awareness and it's about developing the brand and doing it worldwide."
The news comes on the back of Rangers' decison to replace JJB Sports as main retail partner with Ashley's Sports Direct.