Kennedy, who owns Aviva Premiership rugby union side Sale Sharks, says he is not interested in being part of a takeover consortium - something being considered by former Rangers director Paul Murray - but admits that may be the best solution for the Glasgow club.

Kennedy told the Scottish Daily Mail: "I've had a meeting with the administrators. But they have to work out exactly what the position is before they can talk to anybody in earnest.

"Ideally, a consortium will be put together to buy Rangers. I would not be interested in joining a consortium because it's not the way I work. But that might be best for Rangers if it came off.

"The Blue Knights seem to be a good bunch of guys and, if they can get the funding to save Rangers, then good luck to them. I am not competing with them.

"I would stand back if they showed they were the best option for Rangers. But if they are not able to do so, then that is possibly where we might have an interest. As always, there is an 'if' in there."