He is also the force behind Blue Pitch Holdings, listed as the main shareholder in Charles Green’s consortium and reported to hold 23 per cent of shares. It’s understood Naqvi has a personal holding in the club.
It’s believed Gers boss Ally McCoist owns around 4.5 per cent and Green is next week expected to confirm a £1m investment from Newcastle owner Mike Ashley to secure a nine per cent stake.
Other investors include Imran Ahmad and Richard Hughes of Zeus Capital with 9.8 per cent.
Scottish-based businessman Ian Hart, who was part of the Blue Knights group, has a shareholding of 1.3%.
The shares will be diluted, though, after Green launches an IPO share issue allowing fans to buy into the club.
Rangers, so far unbeaten in SFL Three travel to Berwick Rangers for Sunday's game - ironically seeing them play a league game on English soilfor the first time given the rumours that Rangers might try and buy and English club earlier in the summer.