Administrators of Rangers Football Club have announced that they are accelerating the sale of the Scottish club.
The administrators will also start to take 'severe' cost-cutting measures if the club is unable to find a buyer within the next few days.
Duff and Phelps failed to persuade the playing staff to take wage cuts and are now seemingly reliant on offers from outside.
A statement read: "We are announcing we are accelerating the sale of Rangers FC. The club is in a perilous financial position and that should not be underestimated.
"Regrettably we have been unable to agree the cost-cutting measures with the playing staff and as a result, we are trying to move along the sale process.
"If, however, it becomes apparent that the sale process cannot be accelerated, then there will be no choice but to implement very severe cost-cutting measures at the club."
It is also not yet clear whether the Scottish club will be able to complete their remaining Scottish Premier League fixtures.
Matt Law
