Rangers manager Ally McCoist has called for administrators to name a preferred bidder as soon as possible after expressing concerns over the protracted nature of the bidding process.

Former Ibrox director Paul Murray's Blue Knights consortium has taken a step back from the race to buy the club, leaving Bill Ng's Singapore consortium and American tycoon Bill Miller still in the running. Administrators Duff and Phelps expect to announce a preferred bidder this week.

McCoist told Blues News: "Obviously, like all Rangers fans, I think the sooner the preferred bidder status is announced would be a big, big step in the right direction... I can totally understand everybody's concern and that's why I'm hopeful that it will be sooner rather than later. I won't lie to you. I'm really concerned and really worried because we have a lot of planning to do."

He added: "There obviously have been developments and it looks like the preferred bidder status has moved away from the Blue Knights and perhaps headed to either the American bid or the Singaporean bid.

"The uncertainty and the lack of clarity about the future is obviously really concerning and worrying for everyone, be that players, staff or fans.

"We have pre-season games and hopefully we'll try to arrange pre-season tours. All these things and players coming and going makes it concerning."

The Blue Knights were set to be named preferred bidder on Friday but financial backers Ticketus would not pay the non-refundable deposit, reported to be £500,000.

The group raised the cash themselves but, amid the delay, discovered Ng had made what Murray called a "substantially" better offer to Ticketus.

Murray added that they were not able to match Ng's offer and were stepping back from the process in a bid to help Duff and Phelps agree a deal with the Singapore group and avoid liquidation.

However, Ticketus - whose contract with the club gives them the right to £27million of season tickets over the next three years - remain happy to work with Murray.