Duff and Phelps were expected to name the chosen bidder last week but said the publication of SPL proposals on sanctions for clubs going into administration and liquidation had caused interested parties to seek more information.

The SPL proposals would mainly affect a new Rangers emerging and taking over the current club's SPL share. Any such entity would be subject to 10-point deductions for two seasons and lose 75 per cent of their league income for three years.

However, joint administrator Paul Clark believes they also need clarity on whether Rangers would be subject to sanctions if they agreed a Creditors Voluntary Arrangement (CVA) before the start of next season but did not technically emerge from administration until after it starts.

Clark said: "We saw the comments from one bidder in the media on Saturday but it is not us who are holding up the process or moving the goalposts and all the bidders are aware of that.

"Before selecting a preferred bidder, it is vital to the club's interests that bidders have made in writing their full financial commitment.

"We believed we were nearly there last week and it is unfortunate that matters have run on. We hope to move things along next week but there is a lot of hard work to be done.

Concern

"The SPL proposals regarding a newco scenario did raise some concern but more important was the grey area of the club exiting administration but not completing a CVA before next season and that still requires clarification.

"While bidders wish to remain at the table, all of them attached conditions to their bids which included access to the football authorities."

Paul Murray's Blue Knights consortium are competing with a Singapore-based group headed by Bill Ng and a bid from US businessman Bill Miller for control of the Ibrox outfit.

Murray claims their offer would be unaffected by the SPL proposals, which were announced on Wednesday and are due to be voted on 30th April.

The former Rangers director said: "My reading of the proposals, and I have spent four or five days looking at it quite closely, is anyone proposing a CVA isn't really affected by these resolutions, as long as they exit administration by the start of next season, which is what we hope to be doing.

"Anyone proposing a newco, which is buying the trade and assets of the football club and leaving the old company behind, is affected by these proposals.

"I haven't qualified our bid. We confirmed our bid on Thursday and it was the same as the one we put in 10 days ago."

Condition

Murray revealed his group's original bid included the condition of knowing the full extent of sanctions from football authorities.

"We have not changed that condition," he said.

"My reading of the SPL proposals is, as far as we're concerned, we are not affected by these resolutions."

Murray has not had any indication from Duff and Phelps on who the preferred bidder might be.

"We have just got to get on with this," he added.

"It's two months since the administration process started and the season ends in one month.

"There are a whole bunch of things to do, principally getting the playing squad sorted in relation to the variation of contracts that were made a few weeks ago.

"The players have made financial sacrifices and that should be recognised, but they want to get clarity on the future and the longer it goes without people knowing who the owner is going to be is obviously a period of uncertainty."