American businessman Bill Miller has released the details of his bid to take over stricken Scottish Premier League side Rangers.

Miller has prepared to launch a £11.2m bid for the former SPL champions, which would be used as an "incubator" while the club's administrators Duff & Phelps continue to launch the club out of administration.

Miller released a statement, which said: "In order to preserve the club's history, records, championships and assets, I will put the heart of the club into an 'incubator' company while Duff & Phelps works to make the sick patient healthy through a Creditors Voluntary Arrangement process that effectively works to radiate the toxicity of past administrations' sins out of the patient while the healthy heart is preserved and moves forward.

"There is no time left for empty promises and grand-standing. The time has come for all interested parties to either put up or shut up. Everyone involved has had their '15 minutes of fame'. Let's save Rangers. There is no time left."

Meanwhile, Singapore businessman Bill Ng confirmed earlier today that he has withdrawn his consortium bid for the club.