Mr Murray said his regime's plan to restore financial fortunes at Ibrox is on course despite warnings from an advisor to a rival bid to buy the club from administrators.

US-based Jon Pritchett, who advised Bill Miller on his offer for the oldco club, wrote in American business magazine Forbes that there was no return possible and stated that "I don't think the Rangers math works".

Miller was named preferred bidder by administrators in May but withdrew his offer five days later after stepping up his due diligence.

The tow-truck tycoon openly planned a newco transaction, which Charles Green's Sevco Scotland company eventually carried out in a £5.5million deal after an offer to creditors failed.

Pritchett, who is chief executive of investment firm Club 9 Sports, wrote that it would be difficult to end the long-standing culture of over-spending within Ibrox.

Responding in a statement, Murray said: "The last time Mr Pritchett had sight of any financial information about Rangers was many months ago and, as a result, his article is ill-informed, misleading and scaremongering.

"For the avoidance of doubt, there is no risk of the club going into administration and any suggestion otherwise is scandalous and appears written to attract headlines.

"Projections Mr Pritchett had sight of have not been relevant since May and from the day I became chairman, I have been committed to ensuring this club lives within its means and never again comes to the brink of collapse.

"It is my understanding that Mr Miller's plans were based purely on cost-cutting and little additional investment in the club."