Paul Murray has revealed that his Blue Knights are ready to re-join the takeover race at Rangers, with the club still searching for a new owner.
It was hoped that the process would be edging towards a conclusion by now, with bidders identified and considered.
The Ibrox administrators, Duff and Phelps, are yet to announce the identity of their preferred bidder, though, and a distracting saga has dragged on.
Sale Sharks owner Brian Kennedy is already back in the running, having had a previous offer turned down, and Murray is also ready to step up his efforts to acquire the financially-crippled Gers.
The Blue Knights had taken a step back in an effort to help Duff and Phelps move things along but, with gridlock reached, they are now prepared to re-enter discussions.
Murray told the Daily Record: "On Monday I made it clear that, in the best interests of the club, the Blue Knights were prepared to take a step back from this process.
"We did so because we did not want to further delay the absolutely critical task of selecting a preferred bidder.
"But we also made it clear our offer was still on the table.
"Now, in the light of the lack of activity over the subsequent 48 hours, I am reconsidering our position.
"This situation has to be resolved with maximum urgency as we are now heading beyond the point of no return.
"I have discussed things in great detail with Brian over the course of today (Wednesday) and we are in total agreement as regards the absolute urgency of the situation."