( CNN ) -- British businessman Charles Green has agreed a deal to take over Scottish Premier League side Glasgow Rangers , the club 's administrators said on Sunday . The former Sheffield United chief executive is leading a global consortium made up of 20 investors from the Middle East , Asia and the Far East . `` 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 , '' said David Whitehouse of administrators Duff and Phelps . `` 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 finalized at a creditors ' meeting on June 6 . '' Neither Rangers , who have been Scottish champions 54 times , nor the administrators disclosed financial details of the offer from Green 's consortium , but reportedly the deal is worth £ $ 13.6 million . `` Mr. Green , through a corporate vehicle , has entered into a binding commitment to inject funds into the Rangers Football Club plc so that the administrators can propose a Company Voluntary Arrangement which , if approved by creditors , will result in their claims being compromised for specific amounts and the company exiting administration free of the historic debt and with new owners . `` If the creditors do not approve the Company Voluntary Arrangement , the agreement obliges Charles Green 's purchasing vehicle to acquire the business and assets of the club on agreed terms , through a newco structure . It is Mr. Green 's strong preference to achieve a CVA . '' The Glasgow team 's slide into administration in February was related to an unpaid tax bill of $ 14 million , incurred after businessman Craig Whyte bought the club in June 2010 , but the UK government is also seeking $ 118 million allegedly owed in back taxes . `` I can assure you that there will not be any investor who owns more than 15 % . I do n't believe that any one person should own a football club , '' Green said . `` I think when we look around at certain clubs where one individual is in control there is no contingency and things are driven by their ability to sign a check . '' After entering administration , Rangers had 10 points deducted and will suffer a further points deduction if the club does not emerge from administration by the time the 2012-2013 season kicks off .
Former Company Voluntary Arrangement chief executive Green agrees Rangers takeover deal . His consortium is made up of investors from the Middle East , Asia and Asia . Takeover consortium wants to exit administration by Sheffield United . Green promises no investor will owns more than 15 % in the British club .