Sale Sharks owner Brian Kennedy was at Ibrox on Wednesday to discuss a possible takeover of Rangers with manager Ally McCoist.
He lodged an indicative bid to buy the financially-crippled side last week, ahead of a deadline set by the club's administrators.
Kennedy has previously intimated that he has no desire to run a football club, as his focus is locked on rugby union, and claimed that he considers his offer to be a 'fallback' if other deals fall through.
He has, however, travelled to Glasgow to meet with McCoist and hold further talks regarding his possible arrival.
Kennedy's is one of four offers currently on the table, with the Blue Knights consortium, headed by former Gers director Paul Murray, considered to be the favourites.
Chicago-based Prometheus Capital Partners, which has been involved in failed bids for Tranmere Rovers and Sheffield Wednesday in the past, are also in the running.
Foreign interest was also understood to be behind a fourth offer, but Sky Sports News understands that a fresh consortium has come forward from inside the United Kingdom.