Jim McColl believes a quick change in ownership would be in the best interests of the Ibrox side and Scottish football as a whole.

McColl warned the new owners they do not have the backing of the Rangers support and urged them to consider a quick sale.

He said: "I would like to issue a public appeal to Charles Green to strongly consider selling the club to the Walter Smith consortium.

"This would be in the best interests of Rangers FC, the Rangers fans and all of Scottish football.

"Mr Green does not have the backing of the Rangers support and the longer he delays, the harder the situation will become."

McColl's views were backed by a statement from the Rangers Supporters' Trust, which read: "The Board of the Rangers Supporters' Trust welcome today's bid headed by Walter Smith.

"We firmly support the view that Rangers men should be in charge at this critical time in our history and that no profit should be gained by any individuals owning the club.

"This bid is the only one which will ensure all the Rangers family are united and if it comes to fruition we can pick ourselves up and take the first tentative steps on the long road to recovery and our 55th Scottish League Championship.

"The Rangers Supporters' Trust board calls on all supporters' to hold off renewing season tickets till this situation is resolved."