Rangers' joint administrator David Whitehouse has confirmed that the club are considering three out of four offers for the Scottish Premier League champions.

Whitehouse, who is an administrator from London firm Duff and Phelps, has released a statement claiming that one of the bids that were placed before the 5pm deadline yesterday has been rejected.

Whitehouse released a statement, which read: "Following the outcome of the bidding process, I can confirm today that we will be considering further three of the four bids submitted yesterday. We have had a number of discussions with the interested parties today and have stressed the benefits to them of engaging openly with the club's fanbase.

"We can now see light at the end of the tunnel whereby the club can exit from administration and focus upon success on the pitch. While we cannot be precise on timescale, exit from administration does look achievable by the end of the season. We also hope to announce next week acceptance of one bid, which would then be subject to a period of due diligence and exclusivity.

"Most importantly, following the bidding process, we believe that the most likely exit from administration will be the successful implementation of a CVA."

The club confirmed that they had received offers from Germany, Singapore and the United States of America.

Former Gers board member Paul Murray is part of consortium Blue Knights, who also put forward a bid to take over the stricken club.