FORMER Rangers director Paul Murray claimed that liquidation was not inevitable for the club as he confirmed his involvement in a potential takeover bid.

The businessman's claims followed a statement from existing club director Dave King who said there was no reasonable prospect of Rangers coming out of administration.

Mr Murray disputed the statement and claimed a Company Voluntary Agreement (CVA) with creditors could offer a viable solution to allow the Ibrox side to leave administration. He said: "I'm surprised Dave King has actually released that statement. I obviously agree with a lot of things he said as it's a pretty comprehensive statement but not in regard to liquidation.

"Dave lives in South Africa and I think he's currently in China on business, so he's a little bit distant from the detail here.

"It's a personal statement and reflects his personal views.

"Talking to the administrators, I'm certainly not working on the basis that liquidation is inevitable. I'm working on the CVA proposal as the way forward, and that's in the best interests of the club and that can change the club."

The businessman added that his consortium, dubbed the Blue Knights, plan to make a bid for the crisis-hit club before the end of next week.

He said: "Any insolvency process is very complicated. The administrators are three weeks into the process and are working through some pretty complex legal situations."