Concerns about the retail deal Rangers has with Mike Ashley have heightened after it emerged that his Sports Direct group sold nearly £4 million of goods to club outlets in the last year.

It means that the sports firm headed by Mr Ashley, who owns 8.9% of the club plc, has taken nearly £8 million in two years of sales to the Rangers Retail joint venture, which runs the club's entire retail and merchandise operation, including the club's Rangers Megastore.

It is understood most of that money has gone as Rangers Retail which is controlled by Mr Ashley is buying Rangers merchandise, including replica kits, gifts, polo shirts and track suits from the Ashley-controlled firm for use in club outlets.

Two years ago Rangers announced a five-year kit deal with sports brand Puma, who were according to the club the "official supplier and licensee of replica mechandise for the club". They are described by Sports Direct as a "key strategic partner" for their business.

The sales, which have caused concern amongst fans, has resulted in apparent hit in potential profits which might benefit the cash-strapped club.

The Rangers Retail set up has been a long-lasting area of controversy and at the end of last year, Rangers Supporters Trust launched an alternative shirt for fans as they took on Mr Ashley in the war over Rangers retail - and said all profits would be ploughed back into an increased shareholding in their club.

The previous 10-year licence agreement with sports retailer JJB Sports rubber stamped in 2006, was worth a minimum of £48 million to the club.

The club got an initial payment of £18 million when they launched an Umbro home kit and were guaranteed a minimum annual royalty of £3million in each year of the licence.

When Rangers Retail, a joint venture between the club and Sports Direct, was confirmed by the club under then chief executive Charles Green in August 2012, it was promoted as enabling Rangers "to once again control its retail operation and give supporters the chance to buy direct from the club and in doing so, continue to invest in its future".

Latest accounts show that while Rangers Retail sales quadrupled from £1.2 million in the year to April 2013 to £4.8m in the year to April 2014, profits only doubled from £434,312 to £877,662. That is because the costs associated with the sales soared by eight times that of the previous year from £546,656 to £4.2 million.

Sport Direct financial papers now show that in the year to April, 2015, £3.834 million went to Sports Direct through sales to Rangers Retail. The previous year it was £3.843 million.

According to Sports Direct the group's agreements with Rangers Retail Limited and Newcastle United Football Club, amongst other football clubs, involve the provision of "procurement and warehousing services" and that sales disclosed relate to goods bought from them "at cost plus a small handling fee".

Craig Houston of the Sons of Struth fans group said it was time for things to change.

He said: "If Rangers fans were happy with deal and the split of the money then and I am quite sure fans would buy jerseys, but the split it is totally unfair. You have to have a fair structure, and evidently it is not.

"It is clear from the accounts that the margin is not there for Rangers. The fans are not stupid."

A Sports Direct spokeswoman said the sales figure to the Rangers shop "covers the cost of goods and an additional small transaction fee, which covers the costs related to the additional warehousing of this merchandise.."

She also insisted Rangers sells on the stock to its customers in its shops “and keeps all of the sales proceeds”, a statement questions by some sources.

But Rangers International Football Club plc figures show that as working capital continued to be at issue, as of the end of December, there was £3.2m "relating to Rangers Retail" included within the £3.33m cash balances which was "not immediately available as working capital to the group". Similar statements have been made in previous financial statements.

Rangers Retail remains under the control of billionaire Mr Ashley even though club chairman Dave King has now been appointed as a director.

The latest annual return newly posted for Rangers Retail Limited confirms that the Sports Direct founder and owner remains the ultimate controlling party - despite continuing efforts to renegotiate the deal.

In January Sports Direct were given a further 26 percent of shares in Rangers Retail to add to the 49 percent which was already owned by the English businessman as a condition of a £5 million emergency loan to the club.

The new papers reveal that these have come in the form of B shares, which are seen as second-class stock in Rangers Retail, which holds rights under licence to the club's famous crests.

The documents reveal that even if the loan is paid off, Mr Ashley and Sports Direct would remain in control over all Rangers Retail financial matters.

The Rangers Retail registered office remains at Sports Direct HQ in Shirebrook, Derbyshire.

Mr King said in May that he hoped to get a commercial and retail set up at Ibrox the fans "can buy into" after he was cleared by the Scottish Football Association as 'fit and proper' to be on the board.

After indicating that he hoped concerns about the control Mr Ashley has over the club's retail operation could be sorted out, the board got the support of shareholders at a general meeting over a month ago to decide that repaying the Mr Ashley's loan was not in the club's interests.

Shareholders also also backed the board in their bid to renegotiate the terms of agreements in place with Ashley’s retail empire.

After Mr Ashley called the June 12 meeting to call in his £5 million, the board threatened to reveal details of the existing contracts but were prevented after Ashley won a legal injunction both north and south of the border.