RFC Holdings has confirmed that negotiations with Glasgow Rangers Football Club chair Sir David Murray over a possible takeover bid are at an "advanced" stage.

The announcement was made following media speculation regarding the ongoing talks, although RFC Holdings said it had not yet agreed a price and had set no deadline for the conclusion of discussions. RFC Holdings - controlled by property developer Andrew Ellis - also stressed in its announcement to the London Stock Exchange that it is not guaranteed to make a firm offer.

In a statement, a company spokesperson said: "It is emphasised that this announcement does not amount to a firm intention to make an offer and there is no certainty that any offer will be forthcoming or as to the terms of such an offer." Elsewhere, Cardiff City Football Club (CCFC), which currently plays in the Coca Cola Championship, has paid a £1.9m debt to HM Revenue and Customs and appears to have safeguarded the club's future.

The club had been served with a winding up petition over unpaid tax and had been warned it could be forced out of business, but the BBC has reported that CCFC has now paid its debt in full. It comes after the club's shareholders backed a £6m investment from a Malaysia-based consortium last month, which saw the appointment of Dato Chan Tien Ghee as chair to replace the outgoing Peter Ridsdale.

Salisbury City and Northwich Victoria football clubs have lost appeals against a Football Conference decision to relegate the clubs from the Blue Square Premier and Blue Square North respectively. The Football Association dismissed both clubs' appeals against the Football Conference ruling that neither were eligible for membership due to breaching insolvency regulations during the 2009-10 season.