Administrators for Rangers address the media

Administrators for Rangers held a press conference on Thursday to provide an update on the situation at the Ibrox club.

Paul Clark of Duff & Phelps told the media: "As administrators we have to look at all other expressions of interest in the club and to date we have received several expressions of interest from parties not connected to the club. These will be subject to ongoing discussions and examined in the forthcoming days.

"This morning I spoke to Ally McCoist and the playing staff at the club's training at Murray Park. I told them a review of staffing, including playing staff, would be necessary as part of the process and that it would be next week at least prior to any decisions being taken in this area.

"I'm not going to speculate what this review will entail. I am delighted to confirm that we will be making the February payroll obligations in full.

"There has been widespread comment and speculation about the finances of Rangers. At this moment it is not possible to give a detailed financial report but we can assure everyone that as part of the process there will be a full account of the club's financial affairs and this will be published in due course and become a public document.

"Looking to the future we are hopeful that a Company Voluntary Arrangement (CVA) can be achieved and these are measures that are put in place and deal with all of the club's liabilities.

"As a result of our preliminary assessment we are wholly confident that Rangers will continue as a football club. We do not think that liquidation and the closure of the club is a likely outcome at all. We need to stabilise the financial position and ensure from now on income exceeds expenditure.

"We fully understand the 140 years history of Rangers football club and are taking steps to ensure this history will endure."