A new, improved bid for Rangers has been put to administrators Duff & Phelps by the Blue Knights consortium.

Joint administrator David Whitehouse had asked the Knights to offer more after a £5m bid was received on Friday. That offer projected that £8m the club owes to Ibrox debenture holders could be removed from the debt because those creditors' would be supportive of the Knights.

But Whitehouse claimed the deal fell short of American Bill Miller's £11.2m offer. Duff & Phelps intend to confer preferred bidder status this week.