Supporters have reacted furiously to the news that Ashley could be granted security over both the stadium and the training ground.
A mass demonstration will be held by Light Blues followers before kick-off in the SPFL Championship match against Hearts this evening.
And they could call for a boycott of the chain of sports good shops run by Newcastle United owner Ashley in the future if they controversial move gets the go ahead.
The Sons of Struth held "flash mob" protests outside Sports Direct stores in October after it emerged that Ashley had bought the naming rights to Ibrox for just £1.
The campaign, which was covered extensively in the national media, contributed directly to the the billionaire English businessman handing the rights back to the club.
Sons of Struth organiser Craig Houston said: "There are a lot of discussions going on just now, but further protests and actions at Sports Direct shops are being talked about. Once something has been decided we will announce it.
"Securing Ibrox for the future of Rangers was one of the three main aims of Sons of Struth when we started. So this news is very, very worrying.
"We expect any board to put out a statement saying the prospect of using the stadium has been refused, not that it is being considered.
"The Rangers board has said on numerous occasions in the past that Ibrox will not be used as security for a loan. So why don't they just tell us they're not doing it?
"In the summer we were told the club had put our a statement that safeguarded the future of the stadium. Unfortunately, we still don't have a legally binding agreement. The board need to let the fans know what is happening."