The Blue Knights consortium have confirmed that they have submitted a bid for Scottish Premier League side Rangers.

The group, who are led by former Rangers board member Paul Murray, has also insisted that they will not be improving their offer.

It is believed that the consortium, who have teamed up with Ticketus, have a plan in place to cut the club's debt by around £17m.

All interested parties have until 5pm this evening to make an offer for the club, who entered administration earlier this year.