Rangers have received an improved takeover offer from American businessman Robert Server in a bid to take control of the Scottish club.
Server, who also owns basketball side Phoenix Suns, has submitted a £20 million offer for the club after the board rejected his £18 million bid on Tuesday.
Server's £20 million offer includes £6.5 million, which can be used to pay off short-term costs and debts.
Sarver said: "This revised proposal hopefully helps the board deal with its short-term cashflow crunch and also addresses my desire to see the club on a solid long-term financial footing.
"It would also enable Rangers to repay the loans from Mike Ashley and Sandy Easdale, and free it of debt."
Article continues below
Rangers currently owe Newcastle owner Mike Ashley a significant sum as well as needing to pay back a £500,000 emergency loan from Sandy Easdale.
Easdale loaned the club £500,000 to avoid the club falling into administration, something they were just days from doing.
Sarver had spoke of wishes to take the club back to the top of the Scottish game after he submitted his initial bid which the club rejected as they believed it undervalued the side.
Rangers' fall from grace
Rangers had won 54 top tier Championships in the Scottish league and led the way alongside rivals Celtic before they were forced to start again in the third division, the fourth tier of Scottish football.
The club's initial reaction to Sarver's improved bid is currently unknown as the situation has taken a possible U-turn meaning Sarver may still take control of the Glasgow club.
Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: http://gms.to/writeforgms