RANGERS fans have claimed the club do not need American tycoon Robert Sarver's money after the NBA basketball club owner upped his offer for the club to £20million.

Mr Sarver yesterday (thur) increased his offer to take over the Ibrox club by £2million from £18m and also offered it a £6.5m loan.

But the Rangers Supporters Trust said they still have faith in former director Dave King and The Three Bears, Douglas Park, George Letham and George Taylor, who snapped up a significant stake in the club last week.

Trust spokesman Chris Graham said: "This bid does not take us any further forward than the last. It would still have to meet with the approval of the shareholders and that's unlikely to happen.

"Six months ago people would have been beating down Mr Sarver's door, but now we have a credible alternative on the table in the form of Mr King and the Three Bears, and most fans would rather he work with them."

Mr Sarver, who owns the NBA basketball club Phoenix Suns, had an £18m offer rejected on Tuesday as the Ibrox club continues to struggle to keep itself afloat.

But yesterday he returned with a revised offer to provide cash to pay off recent loans taken if the club accepts his new offer. He also hinted he would continue working with South African-based businessman Dave King and the Three Bears.

However, it still remains unlikely that he will be able to get the support needed to have his bid accepted.

The Rangers board voted down its own resolution nine at the last month's AGM, which would have allowed it to issue fresh shares to new investors without first offering them to existing stakeholders.

Any move to issue fresh equity requires 75 per cent shareholder approval, but that may prove too great a hurdle with King and the Bears now in control of around 34 per cent and determined to protect the club for the fans.

Newcastle United and Sports Director owner Mike Ashley, who now has 8.92 per cent of Rangers shares, has put key lieutenants Derek Llambias and Barry Leach onto the board.

Rangers have yet to repay Ashley's £3m loan while he has also tightened his grip on the club's retail division.

Mr Sarver said: "This revised proposal hopefully helps the board deal with its short-term cashflow crunch and also addresses my desire to see the club on a solid long-term financial footing."

"It would also enable Rangers to repay the loans from (Sports Direct owner) Mike Ashley and Sandy Easdale, and free it of debt.

"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, if my proposal is accepted, I am committed to building a strong partnership with fans and key stakeholders to do what is best for the club."