Former Sheffield United chief executive Charles Green looks set to be announced as preferred bidder by Rangers administrators.
Duff and Phelps have confirmed they view Green's bid as the highest of four potential offers.
And Rangers have called a press conference for 10am where Green is expected to be confirmed.
Green told the Sunday Mail: "The administrators are going to introduce me as the preferred bidder and we'll do a joint press conference when things will become clearer."
The Blue Knights and Brian Kennedy claimed they were close to preferred bidder status on Thursday and Friday until an 11th-hour bid came in, but Green insists he has been working on the deal for a long time.
Kennedy valued his bid at potentially £11million but Duff and Phelps disagree and claim it is nearer £2million.
Joint administrator David Whitehouse told Sunday newspapers: "I genuinely don't believe we're going to get there with the Blue Knights. We have three proposals, one is ready to go but is at a relatively low level, but it's still significantly higher than Brian Kennedy's bid.
"The secondary bid is not quite there yet but is with very high-profile people whose confidentiality we respect and there's the Charles Green bid."
Rangers fans have given Green a cold initial reception after backing the Knights, who were set to bring former managers Graeme Souness and Walter Smith back to Ibrox on a part-time basis on a football board.
Green told the Sunday Mail: "I understand the frustration of the fans. They are apprehensive about anybody taking charge of the club after what Craig Whyte did. I can assure you there is nothing sinister about my motives. For the last three months I have been working on a deal to save this great club. I have seen what has happened and it has been horrendous."
