Former Sheffield United chief executive Charles Green has reportedly agreed a deal to buy troubled Scottish Premier League side Rangers.

It is thought that Green favours a company voluntary arrangement (CVA) as the best course of action, and he is also understood to be financially backed by a Singaporean businessman.

Green, 59, is a relative newcomer to the race to buy the Ibrox club, but his hopes were given a boost when Bill Miller, who had been favourite to take over, withdrew his bid.

An official announcement regarding Green's takeover is due to take place at 10am this morning, during which he will confirm his plans for the club.