American businessman Robert Sarver has increased his offer to buy Rangers to £20m, an increase of £2m more than his previous offer which was rejected on Tuesday.
The 53-year-old has also offered the club a short-term loan of £6.5m to help address the club’s cash flow problems, which Sarver claims would leave Rangers free of debt after paying off loans to Mike Ashley and Sandy Easdale.
The Phoenix Suns owner, in a statement, said: “If the board agrees to my proposal, I would provide a total of £16.4 – £20m to be invested in the club as the board determines – £6.5m immediately and the remainder following a share issue, taking the major step necessary to restore financial stability to the club.
“I know, of course, that there are various groups of prominent fans who have been working hard for a long time to bring change to the club and they can rest assured that I am committed to building a strong partnership with fans and key stakeholders to do what is best for the club.
“I fully realise that a strong sports club needs local investment, local directors and local support to be successful.
“After everything they have been through in recent years, I understand some are rightly cautious about a guy they’ve never heard of wanting to get involved in their club. I’d feel exactly the same way. But hopefully I can combine my financial resources and knowledge of professional sport with strong local leaders and top-notch management to bring Rangers back to elite level.”