Rangers chief executive Charles Green hopes to have three billionaire investors in place within weeks - including Mike Ashley.
Sky revealed on Thursday that the Newcastle United owner was in talks about buying a stake in the Glasgow club.
And when asked on Friday whether the Sports Direct magnate will invest in the club, Green told Sky Sports News: "Hopefully, yes."
However, Green refused to reveal who the other potential investors were, adding: "Talks are ongoing at the minute so it would be premature to name them."
Ashley could be a welcome presence at Ibrox despite dividing opinion at St James' Park, although Green admitted he does not expect the businessman to plough untold amounts of money into the club should he decide to invest.
"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."
- Ashley Eyes Rangers Stake
- Transfer Tweets: Latest News From Newcastle And Sunderland - Join In Using #STWTransfers
More from Newcastle United
- Sky Sources: West Ham And Liverpool Agree Fee For Andy Carroll
- Tyne And Wear Football Team Of The Season: What Do You Think?
- Have Your Say: Newcastle United Fans' Survey 2013
- Newcastle 0 - 1 Arsenal: Final Day Defeat As Steve Harper Says Goodbye
- Newcastle United Manager Alan Pardew Confident Over Future
- Danny Simpson Confirms Newcastle Exit
- Newcastle Boss Alan Pardew: I'm Staying At St James' Park
- Newcastle United Owner Mike Ashley Offers £1Million Incentive To Beat Arsenal
Related tags: Sport
- PFA Warning For Sunderland Boss Paolo Di Canio After Players' Complaint
- Have Your Say: Sunderland AFC Fans' Survey 2013
- 'Psycho Drama Queen': Phil Bardsley's Girlfriend's Twitter Attack On SAFC Boss Di Canio
- Sunderland Boss Di Canio Criticises Phil Bardsley Over Casino Pictures
- Transfer Talk: Sunderland In For Striker Charlie Austin?
- Lance Armstrong's Life Story Trampled Underfoot In Newcastle
- Transfer Talk: Sunderland May Miss Out On Danny Rose
- Yorkshire Bank 40: Durham Lose To Hampshire By Five Wickets
Related tags: Football
- Spurs 1 - 0 Sunderland: Bale Brilliance Sinks Paolo Di Canio's Side
- Paolo Di Canio: Sunderland Would Have Gone Down Without Me
- Transfer Talk: Simon Mignolet's Agent Rubbishes Talk Of A Move
Related tags: Newcastle
- Newcastle United v Arsenal Preview: NUFC 'Owe A Performance'
- Newcastle United Dad-To-Be Davide Santon Spared 99mph Driving Ban
- Newcastle United Owner Mike Ashley Arrives At Training Ground In Helicopter
- Sports Direct News Apologises For Newcastle Rooney Bid Claims
- 'Not A Grain Of Truth' In Sports Direct News Report Of Newcastle Rooney Bid
- Yohan Cabaye Backs Newcastle's French Players To Come Good
- Newcastle's Ben Arfa: We'll Be Back Near The Top Next Season
- Newcastle's Ryan Taylor Set For Career-Saving Surgery In US