Scottish giants Rangers confirmed on Monday that majority shareholder Sir David Murray has begun discussions with London-based property developer Andrew Ellis regarding a takeover.
The runaway Premier League leaders – who are 31 million pounds (47 million dollars) in debt – said discussions with “interested parties” are at an early stage.
An independent committee of the board, which includes Ibrox legend John Greig, has been set up to consider any offers for Rangers.
Murray stepped down as chairman in August 2009.
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