Plans for a multimillion-pound retail and hotel complex which could lead to the redevelopment of Ibrox Stadium is expected to take a major step forward today.

Plans for a multimillion-pound retail and hotel complex which could lead to the redevelopment of Ibrox Stadium is expected to take a major step forward today.

Glasgow City Council is expected to agree to sell land to Rangers for the Ibrox precinct development which is expected to help regenerate Govan.

But Rangers chairman Sir David Murray says any move to increase the stadium to 70,000 is some time away, because of the credit crunch.

Rangers are expected to get an option on the council land and enter into discussions on the price.

A report by George Ryan, executive member for development and regeneration on the council asks colleagues to support the project which he said "will make a very significant contribution to the regeneration of the area".

The proposal comes three years after Rangers secured planning consent for another redevelopment. It included the building of a regional casino, a five-star hotel, restaurants, a health club and sports bar, shops, 279 apartments, a full-size sports pitch and children's play area.

But Rangers had to scrap that idea, after Westminster decided not to award it a licence for a regional casino.

Since then Rangers have been in discussion with the council over the possibility of developing a new plan for the redevelopment of the precinct and the stadium.

Mr Murray said: "We are very pleased to announce that, belatedly, there will be a statement and rubber-stamping by Glasgow City Council.

"It will confirm they have agreed to pass ownership of certain grounds across to us for development." He apologised for the delay in proceeding with the project but said it was "outwith our control".

Mr Murray added: "I accept there have been delays, but we still believe there is a viable plan to develop. We still have a plan to redevelop the stadium and we will do that in consultation with our supporters.

"Martin Bain (chief executive) and (director of finance) Donald McIntyre have worked very hard on this for the last year and we are assured it will be approved.

"We have a masterplan which will hopefully be of financial benefit to Rangers. The funds will go to the club, nobody else." The club will seek partners for the project.

Rangers have been assessing the commercial viability of a number of development options, including an "ambitious" plan for the redevelopment of the stadium itself.

It would also involve the erection of additional conference and exhibition facilities, the construction of new hotel accommodation, the construction of new public realm and civic spaces, and the construction of new homes.

The council said the ideas put forward would create a "state of the art" sports, convention and entertainment development destination, whilst assisting the regeneration of the local area.

The council says the proposal would take account of the impending demolition of tenement properties in Hinshelwood Drive, and the anticipated demolition of the multi-storey flats adjacent to the Ibrox car parking area.

Plans to increase the capacity of Ibrox appear to have been put off, however, with current economic conditions being blamed.

"A year ago, Martin and I had been looking at Lyon's plans as they look to build a new stadium," Mr Murray added. "But, at the moment, our plan, to be quite honest, doesn't stand up financially in this climate."

Mr Murray has said he will "eventually" have to sell the club - but not necessarily "to the highest bidder".

But he says he would only sell the club to someone he felt had Rangers' "best interests" at heart and has admitted that he could have sold the club two or three times but walked away from deals as he felt that they were not right.