Charles Green is set to resign from his role as chief executive of Rangers, according to reports.
Green, who became chief executive after leading the consortium that purchased the business and assets of the liquidated "oldco" Rangers in June 2012, is facing an independent investigation, commissioned by the club's board.
The inquiry was launched by non-executive directors following allegations of "underhand dealings" with former Rangers owner Craig Whyte, while the Scottish Football Association is also carrying out its own investigation.
Whyte threatened legal action to prove that he still has ownership of Rangers' assets in April, and later released tapes of conversations he had with Green and commercial director Imran Ahmad.
Green, who owns just under 8% of the Scottish club's shares, making him their biggest shareholder, has been unavailable for comment.
Green's "newco" Rangers began their footballing life in Scottish Division Three, and were confirmed as the competition's winners in March.