Rangers players' pay cuts confirmed
Rangers' administrators have confirmed players have agreed a wage-reduction deal that has secured jobs at the club.
Duff and Phelps said there are minor issues to be resolved but a deal is in place to keep the playing squad intact and prevent redundancies among the general workforce.
Players have agreed cuts ranging from 25%-75% while management and coaching staff have also accepted reductions.
In a statement, joint administrator Paul Clark said: "We are pleased to announce today a package of cost-cutting measures has been agreed with the Rangers playing staff that enables the club to move forward.
"The agreement on very substantial wage reductions and voluntary departures from the club represents a major sacrifice by the Rangers players. The discussions have been lengthy and by no means easy for anyone involved but the most important objective in all of this process has been to achieve an outcome that will help save the club."
Mr Clark would not disclose how many players had forgone three quarters of their wages, saying only it was a "large number", and refused to divulge details on any interested parties.
Former director Paul Murray confirmed that his Blue Knights consortium are finalising an offer for Rangers in partnership with supporters groups and Ticketus.
A statement issued on behalf of the company confirmed: "The 'Blue Knights', led by Paul Murray, today confirm that they are finalising an offer for Rangers Football Club in partnership with fans' representatives (from the Rangers Supporters Assembly, the Rangers Supporters Association and the Rangers Supporters Trust) and Ticketus."
Ticketus had a key role in owner Craig Whyte's takeover of the Scottish champions last May.
Mr Murray said: "I believe that the Blue Knights, working in collaboration with the fans and Ticketus, are able to deliver an attractive solution that will see the club emerge from administration with a clear plan for the future that will bring the financial stability that the club needs."