Sheffield Wednesday chairman Milan Mandaric is reportedly considering whether to buy troubled club Rangers.

The Scottish side went into administration on Tuesday with London firm Duff and Phelps.

Administrators Paul Clark and David Whitehouse claimed in a press conference yesterday that there are parties interested in buying the club.

It has emerged that former Portsmouth chairman Mandaric, who was recently cleared of tax evasion charges along with Tottenham Hotspur boss Harry Redknapp, has declared interest in the SPL champions, according to BBC Sport.

The Serbian businessman is believed to have contacted the London administrators over the sale of the club.