Former Sheffield United chief executive Charles Green is leading the race to be named as the preferred bidder for Rangers, Sky Sports understands.
Ally McCoist revealed administrators are close to naming a preferred bidder for the club once again following the withdrawal of the previous preferred bidder Bill Miller earlier this week.
It is believed that Sale Sharks owner Brian Kennedy and his Blue Knights consortium are set to announce they will also be withdrawing from the process after having their bid turned down.
Administrators Duff and Phelps have been holding talks with two new interested parties and Green is thought to have emerged as the surprise frontrunner.
"I spoke to the administrators on the phone this morning and they are very encouraged," said McCoist. "They have told me they are very close again to naming a preferred bidder.
"There are two new potential purchasers who have come into the fray and I believe Brian Kennedy has been speaking to the administrators as well."