Rangers have agreed a deal with former Sheffield United chief executive Charles Green for him to buy the club.
The sale will be announced today where the 59-year-old will detail his visions for the club. It is believed Green is to form a company voluntary arrangement (CVA) and is financially backed by Singapore businessmen.
Green only joined the bidding for the club last week before Bill Miller withdrew his bid. Since then, the Blue Knights were thought to be the preferred bidder.
Sale Sharks owner Brian Kennedy led the consortium and discussed a potential takeover with Rangers owner Craig Whyte, with Whyte agreeing to sell his 85% shareholding, but Green's late bid has been deemed the best for the club by the administrators.