Rangers’ administrators expect to know today whether a deal can be done to safeguard the future of thebeleaguered club by the end of this week.

Rangers administrators remain hopeful of completing a sale of the club before the end of the season despite American businessman Bill Miller withdrawing his offer.

American businessman Bill Miller has withdrawn his bid for Rangers.

Rangers’ administrators claimed Bill Miller could complete his purchase of the club by the end of the season after naming the American businessman as preferred bidder.

American businessman Bill Miller is nearing a takeover of Rangers after being granted preferred bidder status by administrators Duff and Phelps.

Sale Sharks owner Brian Kennedy and the Blue Knights have confirmed they have submitted a “revised bid” for Rangers with administrators Duff and Phelps.

Rangers administrator David Whitehouse is anticipating an improved offer from the Blue Knights after telling the consortium their package is unlikely to satisfy the club’s creditors.

Ticketus, who are owed £27m (€33m) from Rangers over the next three years, have pulled out of the Blue Knights consortium bidding to buy the club.

Rangers manager Ally McCoist has defended his calls for transparency regarding the Scottish Football Association's judicial panel and insists his comments were not a signal for fans to engage in threatening behaviour.

Rangers‘ administrators have requested an immediate expedited appeals process over the sanctions imposed on the club by the Scottish Football Association’s judicial panel last night.

Rangers administrators Duff and Phelps have warned attempts to rebuild the crisis club had been seriously undermined by a 12-month signing embargo handed out by the Scottish Football Association.

Rangers’ administrators have urged fans to be patient for “a few more days” with talks set to continue over the weekend in the search for a new owner for the club.

Manager Ally McCoist believes Rangers must find a solution to their financial problems before the end of May amid fears of liquidation for the administration-hit club.

Rangers players could walk away from Ibrox for free if a new company is formed to take over the club’s assets, according to PFA Scotland chief executive Fraser Wishart.

Rangers administrators Duff and Phelps have instigated legal proceedings against owner Craig Whyte‘s former lawyers – a claim which is understood to be in the region of £25million (€30m).

Ticketus remain happy to work with Paul Murray despite the former Rangers director announcing his Blue Knights consortium were taking a step back from the race to buy the club.

Rangers’ administrators Duff and Phelps will give further consideration to three of the four bids submitted for the club yesterday.

Rangers’ administrators signalled there could be five bids for the club 24 hours ahead of this evening’s deadline – but confusion subsequently surrounded the intentions of one of the frontrunners.

Rangers’ administrators have admitted liquidation is a possibility for the Ibrox club under new owners.

Rangers‘ administrators have asked three bidders to submit “best and final offers” for the club by Wednesday, April 4.

Brian Kennedy is no longer in the running to buy Rangers and has urged the club‘s administrators to opt for a rival bid instead, a representative for the Sale Sharks owner has said.