Sale Sharks owner Brian Kennedy has confirmed he has made a new and "substantially improved" offer to buy in Rangers Football Club.
The Sharks owner had a previous bid rejected last month for being too low but yesterday he contacted administrators Duff and Phelps and this morning he confirmed to Scottish Sun that he's urged administrators to make a decision soon.
"I have made a substantially improved verbal offer and am waiting for the administrators to come back to me," he said.
"Whether they go the Paul Murray and Ticketus route or my way, I would implore them to act swiftly."We're both coming at it from exactly the same angle. We both have Rangers at heart, we're both Scottish, both live here and both know what's best for the club. We've got responsibility, we've got accountability.
"Whether it's Paul or me I don't mind, I just want this to be sorted - and sorted soon."
American tycoon Bill Miller and Bill Ng, a Singaporean businessman, are rival bidders while former Rangers director Paul Murray's Blue Knights consortium, originally backed by Kennedy, have stepped aside to help facilitate what they hope will be a quick deal with any of the other bidders in order to save the club from liquidation.
– Brian Kennedy - Sale Sharks owner
"In the light of the lack of activity over the subsequent 48 hours, I am reconsidering our position."
However, despite "intensive discussions" taking place last night the takeover saga shows no signs of reaching a conclusion any time soon with Duff and Phelps frustrated in their attempts to get an unconditional bid on the table.
While it is not yet quite clear what Edinburgh-born Kennedy is offering, it is believed some of the conditions attached to bids from Miller and Ng cannot be fulfilled or guaranteed by the administrators who are continuing to work towards a resolution.
Murray revealed the Blue Knights are ready to re-enter the race for Rangers in light of "lack of activity" in the bidding process over the last couple of days.
He told the Daily Record: "On Monday I made it clear that, in the best interests of the club, the Blue Knights were prepared to take a step back from this process.
"We did so because we did not want to further delay the absolutely crucial task of selecting a preferred bidder.
"But we also made it clear our offer was still on the table.
"Now, in the light of the lack of activity over the subsequent 48 hours, I am reconsidering our position.
"This situation has to be resolved with maximum urgency as we are now heading beyond the point of no return.
"I have discussed things in great detail with Brian over the course of today (Wednesday) and we are in total agreement as regards the absolute urgency of the situation."