Mike Ashley has dropped his attempt to force a judicial review of a Scottish Football Association (SFA) decision to declare Rangers chairman Dave King "fit and proper."
MASH Holdings, wholly owned by Newcastle United owner Ashley, abandoned its application for a review during a hearing at the Court of Session in Edinburgh after receiving more information from the SFA last week.
Legal arguments continued between the SFA, MASH and Rangers on the issue of costs, and a written decision will be issued later.
The SFA cleared King to sit on the Rangers board in May last year after "unprecedented due diligence" which involved scrutiny of his convictions for tax offences in South Africa as well as his involvement as a director in the lead-up to the liquidation of "oldco" Rangers in 2012.
In March 2015, King and his boardroom allies had displaced a previous Rangers regime which had close ties to Ashley, who has a nine percent stake in the club.