Newcastle United owner Mike Ashley wants to buy fallen Scottish giants Rangers.

The People says the billionaire businessman, who already owns seven per cent of the Ibrox club, dreams of taking Rangers into the Champions League in the next two years.

But the 49-year-old has no plans to offload Newcastle - bad news for Toon fans who are desperate to see the back of him.

They are fed up with Ashley's stewardship of their club, claiming he runs it as a financial exercise rather than a sporting institution.

Owning two clubs in the same competition is forbidden - which could give Ashley problems should both Toon and Rangers qualify for Europe.

Ashley knows there is money to be made from the loyal Rangers supporters, as fanatical as Newcastle's.