The ticket agency that entered into a £24m deal with Rangers owner Craig Whyte has revealed it owns thousands of Ibrox season tickets covering four years.

Ticketus said on Friday that the deal was not a cash loan, but a purchase of the Rangers season tickets until 2015 in return for money up front.

On Thursday, Rangers’ administrators revealed the £24m from the deal had not come through the club’s books, but had entered Mr Whyte’s parent company’s account. They said they did not have "visibility" of the money.

Octopus Investment, which owns Ticketus, issued a statement on its website.

It read: "Octopus Investments would like to clarify the position of Ticketus with regard to the current Glasgow Rangers coverage.

"Ticketus is one of the many entities into which Octopus Protected EIS invests. Ticketus has purchased tickets for Glasgow Rangers games for a number of seasons in advance, as it has done for a number of years previously with the club.

"Ticketus does not lend money; Ticketus is the owner of assets - the tickets. Octopus is continuing to work with the administrators and Glasgow Rangers on this matter."

It is not yet known whether the London firm will be able to raise the price of season tickets at Ibrox.