Newcastle owner Mike Ashley has been charged by the Scottish Football Association over his involvement with fallen Scottish giants Rangers.

The charges come after the billionaire businessman increased his shareholding in Rangers to almost nine percent in October, having previously secured naming rights to the club's Ibrox stadium.

In a statement, the SFA said that both Scottish Championship club Rangers and Ashley were accused of breaking rules that prevent parties from exerting an influence over more than one club.

They are due to face a hearing at Hampden Park in Glasgow on January 27.

The news came on the same day as it was confirmed Rangers manager Ally McCoist had tendered his resignation.

McCoist has been given a 12-month notice period but the final say on whether the manager remains in charge of the cash-strapped Light Blues for that long could ultimately rest with the Sports Direct tycoon Ashley.

However, his behind-the-scenes manoeuvrings have now put the Magpies owner on a collision course with the SFA.

Compliance Officer Tony McGlennan has charged him with breaching two of the governing bodies' rules.

The first - disciplinary rule 19 - states that "except with the prior written consent of the board no person [who] has any power whatsoever to influence the management or administration or a club, may at the same time either directly or indirectly (a) be a member of another club; or (b) be involved in any capacity whatsoever in the management or administration of another club; or (c) have any power whatsoever to influence the management or administration of another club.

A second charge accuses Ashley of breaching disciplinary rule 77, which states, "A recognised football body, club, official, Team Official, other member of Team Staff, player, match official or other person under the jurisdiction of the Scottish FA shall, at all times, act in the best interests of Association Football".