It has been reported that an £18million rescue package tabled by a four-man consortium – led by South African-based tycoon Dave King and current non-executive board member Paul Murray – has been thrown out by the club’s bankers. Sport Times understands King has been in discussions with the bank for the past few weeks and feels it’s time to make a move – with the backing of Murray, and at least two other wealthy businessmen who have yet to be named.

The intention is to buy the debt of the bank at the best price possible, and then generate working capital to be thurst into the Ibrox coffers immediately.

The SPL champions are £31m in debt to Lloyds and Supporters Trust spokesman Edgar has challenged the bankers to come clean and reveal their intentions are for their club – and how much it will take for interested parties to take control.

Edgar said today: “The Rangers supporters want the club to move into new ownership as quickly as possible and hopefully that will happen sooner rather than later.

“The bank obviously have a figure in mind and I don’t think there is any harm whatsoever in coming out publicly and stating what they are looking for. I’m sure every Rangers supporter would be excited to learn a bid was finally made for the club and they’ll also be disappointed that it was rejected.

“We want the club in new ownership as quickly as possible.

“The financial state of Scottish football at this moment in time, plus the money that would be required to get Rangers back to the level which would be expected, means it isn’t exactly a profit making company.”

Turnaround specialist Donald Muir, who was appointed to the Rangers board back in October at the behest of the Murray Group, is believed to be also actively seeking new buyers and club sources say a prospectus is being prepared to try and tempt any interested parties to make a move.

Chairman Alastair Johnston has also been trying to bring investors to the table and has a close relationship with King – who pumped £20m into the club ten years ago. But Muir has had no contact with King and his consortium.