Blue Knights chief Paul Murray has called on Rangers' administrators to choose a preferred bidder sooner rather than later.
The consortium, led by Murray, have submitted a "substantial" bid for the financially-stricken Scottish Premier League club after joining forces with Sale Sharks owner Brian Kennedy.
American business Bill Miller has also made his interest in the Glasgow giants official, albeit with conditions relating to sanctions imposed on the club by the football authorities.
Murray has urged Gers' administrators, Duff and Phelps, to make their decision quickly.
He told Sky Sports: "This is the best and final bid and I just want some clarity now.
"Choose one party and move on because time has run out.
"We are ready to go now and we can complete this very, very quickly. And that's what the club needs."
The Blue Knights were offered the chance to assume preferred bidders' status two weeks ago, but potential partners Ticketus would not pay the £500,000 exclusivity fee and they stepped back from the process to allow the investment firm to complete a deal with Bill Ng.
That failed to materialise and Ticketus withdrew from the Blue Knights consortium on Friday but the partnership with Kennedy, who had an improved verbal offer rejected last week, is a new development despite previous co-operation.
Ticketus will still have a hugely significant role to play as they are currently the major creditors - before a looming tax tribunal decision - and could block a Company Voluntary Arrangement (CVA).
However, Murray claims Ticketus could be favourable to a CVA - but admits attempts to secure owner Craig Whyte's shares in the club might have to rely on his goodwill.
He said: "I have not spoken to him directly but I would certainly hope Craig can see this is in the best interests of the club.
"I like to think he would make one last gesture to help Rangers move forward."
The former Rangers director, who was removed from the board by Whyte, parted on good terms with Ticketus.
"We wanted to go back to the agreement we had originally agreed three weeks ago," he said.
"Ticketus couldn't really offer those terms, I think principally because of the uncertainties that have come out in the last few weeks.
"I think they were pretty concerned by some of the SPL and SFA announcements. They felt that would make the outlook pretty difficult for the club.
"I wasn't prepared to sign revised terms that weren't in the best interests of the club.
"We parted amicably. I am supportive of them and they are supportive of me.
"I would like to think they would vote for a CVA and also help in obtaining Craig Whyte's shares."