David Whitehouse, of administrators Duff and Phelps, told a press conference they hoped to complete an agreement with Miller and with the club's creditors before the end of the current season.
IT has been called the "emotional" bid for Rangers, one that binds the passions of the fans to their 140-year-old football club.
The Blue Knights group led by ex-Rangers director Paul Murray was "surprised and disappointed" after losing out on the preferred bidder status.
RANGERS fans last night claimed they don't know enough about Bill Miller despite his grand promises.
RANGERS' players have been advised that they can leave the club for free if it becomes a "newco" despite administrators Duff & Phelps telling them their contracts would transfer automatically.