Blue Knights submit revised offer for Rangers

Rangers' home ground, the Ibrox Stadium in Glasgow (Getty Images)

Sale Sharks owner Brian Kennedy and the Blue Knights have confirmed they have submitted a "revised bid" for Rangers with administrators Duff and Phelps.

Kennedy and the Blue Knights consortium - fronted by former Ibrox director Paul Murray - are in the running for a takeover of the stricken club, with American tycoon Bill Miller another bidder.

Administrators confirmed they had received formal offers from both interested parties on Friday.

Kennedy's spokesman said: "Brian Kennedy has asked me to advise you all that a revised bid has been submitted to the administrators."