Paul Murray is worried that the Rangers' administrators are running out of time if they ant to avoid the club being liquidated. There are still three bidders in the race for the Ibrox club with Murray's Blue Knights consortium, a Singapore group fronted by Bill Ng and American tycoon Bill Miller, all still interested despite proposed changes to SPL rules. If passed, the resolutions will mean tougher sanctions for any club which go into administration in future or face the prospect of liquidation - an option which has not yet been ruled out for Rangers. On Friday, administrators Duff and Phelps said the would delay choosing a preferred bidder so "parties" can further explore the likely penalties with the SPL. Earlier this week, the SPL announced proposed rule changes which would see a newco Rangers hit with massive financial penalties and 10-point deductions over each of its first two seasons. Murray has been quoted as saying: "I urge the administrators to choose a preferred bidder and allow one of us to get on with the job. Whether it's me or anyone else does not matter - just choose. This is becoming more and more difficult. I am extremely concerned about the timetable. The longer it goes on the more difficult it will be to avoid liquidation. Any new buyer needs to be able to start talking to the players in order to renegotiate the clauses which were recently inserted into their contracts. We need to make sure these guys know there is a future at Ibrox. It wouldn't surprise me if some have already instructed their agents to find new clubs. If these guys leave in big numbers the cost of replacing them and keeping the team competitive will run into tens of millions. That would alter significantly any business plan."