Mr Duff and Mr Phelps, who were handed the task of getting the Ibrox club back on the rails after it entered administration in February, earlier confirmed they viewed Mr Green's bid as the highest of four potential offers.
A statement issued by Rangers said: 'We are very pleased to announce that we have accepted an offer from a consortium headed by Mr Charles Green for the purchase of Rangers Football Club.
'Mr Green has secured, via a substantial financial commitment, a period of exclusivity to complete the purchase of the Club and this is expected to be finalised at a creditors' meeting on June 6.
SOURCE: http://www.straitstimes.com/BreakingNews/Sport/Story/STIStory_798504.html
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