Blue knights table Rangers bid
The Blue Knights Consortium announced on Wednesday that they have submitted their "best and final bid" for cash-strapped Scottish champions Rangers.
Administrators Duff and Phelps set a 5pm local time on Wednesday deadline for offers in a bid to end the uncertainty surrounding the 140-year-old Glasgow giants.
They said on Tuesday that they were anticipating "four or five" bids and one of those was always expected to come from the Blue Knights, fronted by former Rangers director Paul Murray.
Administrators were called in to Rangers on February 14 after British tax authorities went to court to seek payment of an unpaid bill of £9 million ($14m) built up since owner Craig Whyte took charge at Ibrox in May.
That meant Rangers were docked 10 points – a move that effectively handed this season's Scottish Premier League title to arch Glasgow rivals Celtic, who now only need a point at Kilmarnock on Saturday to be crowned champions.
The Blue Knights have formed an alliance with Ticketus that they say will see the company write off "very significant sums" they believed are owed by Rangers.
Deals between Whyte and Ticketus over the sale of future season tickets were worth some £30.5m in total but, with £27m still owed to the London-based company, it was reported on Tuesday that Ticketus were willing to accept just £10m back.
It has been suggested they will allow Murray to pay the debt back over nine years, while also supplying Murray's regime with a £10m loan to cover the club's running costs until they launch a share issue.
A Ticketus statement issued on Wednesday said: "The Blue Knights Consortium, led by Paul Murray and supported by fans' representatives (from the Rangers Supporters Assembly, the Rangers Supporters Association and the Rangers Supporters Trust) and Ticketus, confirms that it has this morning submitted its best and final bid for the acquisition of Rangers Football Club ahead of today's deadline, as requested by the Administrators."
Murray said: "We are determined to try and save the club in its current form.
"As a Rangers fan first and foremost, I want to bring a swift end to the current uncertainties that are clouding the club. Our bid can deliver this."
Administrators are appointed to run a company that cannot pay its debts.