Brian Kennedy among Gers bidders

Sky Sports sources understand Rangers' administrators expect to have up to five bids for the club by Wednesday's deadline, and Brian Kennedy is thought to be one of them. The Sale Sharks owner pulled out of the running last month, but has reportedly renewed his interest and will submit a bid. In another twist, owner Craig Whyte is believed to have agreed to transfer his shares to the Blue Knights consortium, which is led by Paul Murray. Deal Murray earlier said he has struck a deal with Ticketus that will see the investment company write off "very significant sums" of cash they believed are owed to them by Rangers. Deals agreed between owner Whyte and Ticketus over the sale of future season tickets were worth £30.5million in total, with £27million still owed on them, but reports on Tuesday claim the London-based firm are willing to accept just £10million back. It has been reported they will allow Murray to pay the debt back over a period of nine years, while also supplying Murray's regime with a £10million loan to cover the club's running costs until they launch a share issue to bring fans on board. He told the Daily Record: "Our original aim was to get Ticketus on board so we could restructure the original deal and assist our efforts to secure a CVA. This deal does both. "Clearly, they have an interest in making sure that Rangers survive but the concessions they have made have been painful for Ticketus and are in the best interests of the club. They have agreed to this to help Rangers survive and prosper." American investors Club 9 Sports and a Singapore-based group are also expected to make formal bids by Wednesday. Meanwhile, Rangers' administrators Duff and Phelps are to present a report to the club's creditors on Thursday and will ask them to vote on a series of proposals. All creditors will have the opportunity to vote on the proposals, with a deadline of midday on 20th April set for votes to be cast. The administrators stressed that it was part of standard administration procedure and that the report and proposals are not a creditors' meeting at which a Company Voluntary Arrangement (CVA) will be put forward. "In essence, the proposals consist of a set of legal and technical resolutions which relate to routine housekeeping matters, for which the joint administrators are required to seek creditors' approval," said joint administrator Paul Clark. Proposals "The proposals, if approved, will allow the joint administrators to continue the administration process until an appropriate exit from administration can be found. "For clarification this is not a creditors' meeting at which a Company Voluntary Arrangement will be proposed, nor will any other form of exit from administration be determined at this juncture. "Such matters will be formally considered once the sale process has reached a conclusion."