Sheffield Wednesday chairman Milan Mandaric has denied making an approach to buy struggling club Rangers.

Reports claimed today that the former Portsmouth chairman was interested in saving the SPL champions from administration.

A statement on the Owls' official website said: "I am aware and shocked at the media reports today linking my name to an inquiry over the potential purchase of Glasgow Rangers Football Club.

"First and foremost, I can categorically deny that there is any substance to these stories and I am disappointed that such articles are printed without any foundation whatsoever. I have never had any dialogue or contact to anyone relating to Glasgow Rangers.

"Glasgow Rangers is a huge football club with a great heritage and history, but I already have that here at Sheffield Wednesday."

The Serbian businessman went on to say that he has no intention of launching a takeover bid to the Glasgow-based club nor has he instructed his associates to inform him of the Gers' situation.