Image: Administrators were appointed in February

A consortium fronted by the former Sheffield United Football Club chief executive, Charles Green, has agreed a deal with administrators to acquire Glasgow Rangers Football Club.

Duff and Phelps, the financial advisory firm, has been overseeing the running of the Scottish Premier League club since February, and has confirmed that it had accepted Green's offer.

David Whitehouse from Duff and Phelps said Green had a "strong preference" to secure a Company Voluntary Arrangement (CVA) to bring the club out of administration.

"If the creditors do not approve the CVA, the agreement obliges Charles Green's purchasing vehicle to acquire the business and assets of the club on agreed terms, through a newco structure," said Whitehouse.

Details: www.rangers.co.uk