Dave King has revealed when he first heard of the potential takeover of Rangers by Andrew Cavenagh and 49ers Enterprises.
The South Africa-based businessman still holds shares in the club and is its former chairman.
He recently revealed that talks over a potential takeover at Ibrox have been taking place for a while, with King initially hearing of the interest half a year ago: "These discussions have been going on for some time," he told talkSport.
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"About six months ago was the first time I chatted to Andrew [Cavenagh] to see if there was a basis for getting a deal done that would work for both parties.
"Along the way, as with any negotiations like these, there were times when it was touch and go. But if you ask me where we are in terms of legals being signed and terms and conditions precedent that still have to be fulfilled, I would put it at about 90 per cent right now."
King also estimated that the takeover could officially be rubber-stamped by mid-June.
Rangers released a statement on the situation last month: "Rangers and its existing controlling shareholders are in productive conversations with the two lead members of the Consortium, Andrew Cavenagh and 49ers Enterprises Global Football Group, about the potential for the Consortium to acquire control of the club and to inject additional capital.
"These discussions reflect a shared recognition of the importance of Rangers FC's long-term direction, ambitions and management."
