Former Rangers owner Sir David Murray could buy the club back under the terms of his deal with Craig Whyte, according to a former chairman.

Sir Davud, who owned the SPL club from 1988 until selling to Whyte in May 2011, inserted a clause in the purchase sale agreement allowing him to regain ownership under "certain circumstances", according to Alastair Johnston.

Speaking to STV, Mr Johnston confirmed there was a possibility Sir David could regain control, but he was unlikely to step forward in the current climate.

Mr Johnston said: "There is some recourse that could allow Sir David Murray to buy the club back. Options are available to Sir David under certain circumstances.

"But I don’t think he wants to do it and I don’t think the banks would allow it."

Rangers filed papers at the Court of Session on Monday signalling their intention to appoint an administrator. The club now has ten working days in which to announce administrators have assumed control.

On Tuesday, Murray International Holdings confirmed the former owner would make a statement in the wake of the news revealed by STV on Monday.

Whyte’s Rangers FC Group acquired 85 per cent of the shareholding at Ibrox from Murray International Holdings for £1.

He subsequently cleared a £18m debt to Lloyds Banking Group but has threatened to take the club into administration, if HM Revenue and Customs do not compromise over a potential £75m tax liability.

IN DETAIL

• Administration at Rangers is 'almost a certainty'