Rangers administrators could lose a number of potential bidders for the club after a court ruled today that an initial £24.4m contract with the Glasgow-based outfit and Ticketus still stands.

The stricken club's administrators, from London firm Duff and Phelps, were in court today to discover whether they could break a deal that was first met between Gers owner Craig Whyte and Ticketus.

The original contract regarded an offer of 1,000 tickets to Whyte, who then used the money to pay off the previous debt at Ibrox when he took over last year.

The administrators argued that the deal should be broken as it has proved to be a deterrent to potential bidders, two of which have claimed that they will walk away from the deal if it still stands.

Former Rangers director Paul Murray's consortium including the Blue Knights and Ticketus is one potential bidder, with Sale Sharks owner Brian Kennedy and an American Chicago-based group another two potential investors.

An unknown England-based businessman is also believed to be putting a bid on the table for the struggling SPL champions.