Transfer deadline day: Newcastle United confirm deal to parachute FIVE players into Rangers on loan after Ashley cash injection

Boost for Rangers' promotion hopes - but will it leave the Magpies short of cover?

Newcastle owner Mike Ashley. (Ian MacNicol | AFP | Getty Images)

Newcastle United have confirmed a deal to loan no less than five players to Rangers, completed in one go before the transfer window closed.

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Toon boss Mike Ashley owns a stake in the Scottish club and recently loaned them funds to stay in business, via his clothing company Sports Direct.

Now the club has confirmed the list of players put together with the aim of providing Rangers the boost they need to fight for promotion from the Scottish Championship.

Top of the group is the 22-year-old attacking midfielder Haris Vuckic, who has made 18 first-team appearances for Newcastle and has a Slovenia international cap.

Swiss teenage defender Kevin Mbabu and 20-year-old English centre-back Remie Streete also make the move to Ibrox, as do the former Coventry midfielder Gael Bigirimana and the winger Shane Ferguson, who was loaned out to Birmingham City last season.

Newcastle's official Twitter feed confirmed the deals after the window had closed on Monday night, and said that the five players would all remain at Rangers until the end of this season.

Last week it was reported that Mr Ashley, who owns 8.9 per cent of Rangers shares but has been barred from increasing his holding by the Scottish FA, has agreed two interest-free loans to the club of £5m each from Sports Direct. These will replace his existing £3m loan to the club.

In return, Rangers will transfer a further 26 per cent of its retail business to Sports Direct, whose holding for the duration of the loan will increase to 75 per cent. The loan will be secured against the club’s training ground and various other properties, but not Ibrox Stadium.