Brian Kennedy is no longer in the running to buy Rangers. Kennedy is understood to have been told by Duff & Phelps that his bid was too low. Kennedy said: "I was only going to get involved for the good of the club. I am glad the process is moving on and I hope the administrators go with the Paul Murray/Blue Knights bid."
Administrators are hoping to name a preferred bidder, possibly next week, after receiving a fifth offer, from a Singapore-based consortium.
The Scottish Football Association yesterday adjourned its hearing into Craig Whyte and Rangers after the former owner's lawyers asked for more time to prepare a case. The hearing will take place from 17-20 April.