Paul Murray's plan to takeover Rangers and give back to the supporters has kicked into gear with the second phase of action confirmed.

The ex-Ibrox director is leading a consortium called Blue Knights which have put forward a proposal to take control of the club which fell into administration in February and is experiencing severe financial difficulties.

Murray has a plan for fans to be given an opportunity to purchase shares as he looks to build capital for a substantial investment for a club he believes needs to be rescued.

"Speaking as a supporter myself, I can feel all the anguish of the last eight months," he told Sky Sports.

"To see the club in administration, quite frankly, I never thought I would see the day.

"Even now, three weeks in, it is hard to believe and what we have to try and do is rescue the club from the ashes."

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