Prospective new Rangers owner Charles Green has vowed to freeze season ticket prices after revealing administrators Duff and Phelps have informed Ticketus of their intention to terminate their contract.

The London-based firm are owed £26.7million from a deal struck with Craig Whyte last May for the future sale of three years' worth of season tickets.

Majority shareholder Whyte gave personal guarantees to the investment firm over capital issued to the club, which totalled more than £30million.

Former Sheffield United chief executive Green, who is leading a consortium to purchase Rangers, said in a statement: "During the last week I have had a number of meetings with supporters' representatives who have raised important issues about the club and the way forward.

"I have listened to them and a key issue raised with me was the season ticket pricing for next season.

"My initial thoughts prior to these meetings was that season tickets prices should be increased as they had not been raised in the last three years.

"However, taking on board the fans' concerns, I can confirm that when my consortium completes the purchase of Rangers and takes over the running of the club, season ticket prices will be frozen for next season.

"The club's administrators have informed me they have written to Ticketus to terminate the agreement that is currently in place with the club and supporters can now take heart from the fact that season ticket sales will be as normal.

"Once we are in a position to issue season ticket renewals, and that will be as soon as possible, I would urge all fans to continue showing the tremendous support they have given to the club.

"The fans are the club's greatest asset and their commitment to season tickets will be an important part of rebuilding Rangers.

"In view of the public announcement this week that the Plus Market is to close, I can inform all supporters that it is our intention to make arrangements to list Rangers Football Club on an alternative market at the earliest opportunity.

"This is, of course, subject to meeting any requirements to list and having approval from all relevant authorities."

A Ticketus spokesman said: "This is a formality.

"Ticketus were already being treated as creditors in a CVA - implying the ticket deal would no longer stand- but at some stage had to be given formal notification of that.

"Ticketus have received that notification now."

Earlier this month, Ticketus formally launched legal action against Whyte over money owed to them by administration-hit Rangers.

Documents from a previous court case showed Ticketus had made two payments to Rangers, one in May last year and one in September, which were worth more than £30million when VAT was added.

The initial payment, worth £24.4million in total, was used by Whyte to pay off the club's bank debt to complete his takeover just over a year ago.