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"Sarver is a serious player with superb credentials," a source close to the deal told the BBC. "He is a very well-funded, long-term investor with an impeccable 30-year business pedigree.

"He knows what it takes to make major sports clubs successful and would bring a tremendous track record to Rangers.

"He has three sons who are all very keen footballers and he watches their games every weekend.

"He is regarded as a straight-talking and very determined guy with a genuine passion for sport and an impressive record of success at the highest level of US sport and business.

The takeover attempt by Mr Sarver, who made his fortune in banking, is a fresh and intriguing twist.

Sarver wants to own European football clubs – in the plural – and was alerted to the situation at Ibrox by the former Rangers, Leeds United, Aberdeen and Scotland defender, David Robertson, now head coach of Phoenix FC. Mr Sarver has served notice to the club’s advisers of an £18m bid to be made through a fresh share issue which would give him control.

Mori Chu wrote:Does Sarver even have much money these days? I guess the real estate market has rebounded? Isn't that what he made his money in?