Charles Green could be moving closer to a takeover of Rangers after claiming he has reached an agreement with Her Majesty's Revenue and Customs over the Ibrox club's debts.
Green, the preferred bidder for Rangers, said he has an informal deal in place with HMRC to repay the debts in part through a Conditional Voluntary Agreement (CVA).
"HMRC have given us the nod but we need it in writing," the former Sheffield United executive told the Daily Record. "We are in the very final stages of completing the CVA and that's expected very, very shortly."
The newspaper reported that letters the club's creditors seeking agreement to the CVA - worth a total of £8.5million - will be sent out tomorrow.
Green's next move would then be to meet with Celtic counterpart Peter Lawwell ahead of a summit of SPL clubs on Wednesday, at which possible sanctions for Rangers if they fail to agree a CVA will be discussed.
As he prepares to take control of the club, Green criticised the management of the previous two owners, Craig Whyte and David Murray.
He said: "The problem with the club historically is there has been no corporate governance.
"There was no accountability, no corporate balance. What we need to do is get people who haven't got shares on the board so they are not influenced by the share holding.
"When they make a decision then it's made on the basis of what is proper and what is right, not what is in David Murray's interest or that of David Murray holdings or in the interest of Craig Whyte."