American investors have been reportedly considering a potential takeover of Glasgow Rangers Football Club, valuing the club at approximately £150 million, City A.M. said on Tuesday.

However, key figures at the club, including former chairman Dave King, who owns 14%, have dismissed the claims as having “no truth whatsoever”, in an interview with Rangers Review.

Mr King, still the major shareholder, expressed confidence in current chairman John Bennett’s ability to turn the club’s fortunes around. Mr Bennett has been actively involved in streamlining operations and cutting costs after years of overspending.

The takeover rumours surfaced amidst the final stages of the summer transfer window, with Mr Bennett working to bolster the squad.

This article has been updated from a pervious version to include the response from Rangers.