NBA boss Robert Sarver interested in Rangers takeover
The extent of Rangers' immediate financial problems has been highlighted after they announced they needed a loan of up to £500,000 from shareholder Sandy Easdale to provide "working capital" in the coming days.
Rangers announced a new loan deal to the stock exchange as they confirmed that Robert Sarver, the majority owner of the Phoenix Suns NBA basketball team, had made an approach that may or may not lead to an offer to buy the club.
Sarver's interest had emerged on Sunday but his approach to the Rangers board came before almost a third of the club's shares were snapped up by a combination of Dave King and the so-called Three Bears - George Letham, George Taylor and Douglas Park.
Easdale's loan will be secured on income from the recent sale of Lewis Macleod, who signed for Brentford on Friday for an undisclosed fee that was reported as £1million.
Macleod has been the team's most impressive performer this season and his displays earned the 20-year-old midfielder a place in the most recent Scotland squad, but his exit came as Rangers bid to recoup annual losses of £8.3million.
Rangers also confirmed they had received an approach from Sarver in the wake of reports detailing how the 53-year-old American businessman planned to launch an £18million bid for the club.
Rangers said his approach "may or may not lead to an offer being made for the company".
The statement added that Sarver must make an offer or withdraw his bid by 5pm on February 2.