Soccer:Rangers have confirmed that majority shareholder David Murray has begun discussions with London-based property developer Andrew Ellis regarding a takeover.
The Glasgow giants - who are €34million in debt - say discussions with "interested parties" are at an early stage.
An independent committee of the board - which includes former player John Greig - has been set up to consider any offers for Rangers. Murray stepped down as chairman in August 2009.
The Glasgow club said the talks may lead to an offer or offers for the entire issued share capital of the club. Murray International Holdings (MIH) owns over 90 per cent of the club.
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Rangers are 10 points clear of Celtic at the top of the Scottish Premier League with a game in hand.