Murray told shareholders at Ibrox: "I do wish not to do this for the rest of my life. It has been an honour to be chairman, but this is my 19th agm, I've never missed a board meeting, rarely miss home games and I have a huge business to run.

"Over the last year two or three people have spoken to me about buying the club and we did have one particular group which came very near, and I have to watch what I say because we are a plc, but I wasn't happy it was at the right moment for the club.

"I would only consider selling the club to someone who could maintain or increase the level of support that I have given the club over my period of 20 years.

"I have no wish for a quick exit and I don't think you can honestly say that my behaviour over the last couple of months is of a man who is looking for an exit strategy.

"Walter has given me and the rest of the board great enthusiasm for the team and I have no wish to go next week. I reiterate that I would only sell to someone I believe genuinely has the best intentions - someone who would not look to strip out the club, take out the assets, sell the land, sell the best players, do a sale or lease-back with the ground or sell the training ground."