Former Rangers director Paul Murray and Brian Kennedy, the owner of the Sale Sharks rugby union team, on Friday issued takeover proposals for the stricken Scottish football giants.
Murray's 'Blue Knights' group revealed they had lodged a formal bid in a statement released by financial backers Ticketus.
"We firmly believe that our bid is in the best interests of the club and its fans," former Rangers director Murray said.
"We're ready to go, we have the finances in place and we want to get the club stabilised as quickly as possible. I'd love there to be some certainty about the future of our club before next weekend's Old Firm game."
Kennedy's bid was confirmed by Sale.
"Brian Kennedy confirms he has lodged his bid with the administrators," said a statement released by the club.
Administrators Duff and Phelps also revealed that more bids could be on the way amid "worldwide interest".
Media reports claimed an American consortium had also submitted a bid for the Ibrox club.