Rangers bidders handed April 4 deadline
"We fully understand the desire of supporters to see the bidding process concluded as soon as possible and have asked three bidders to submit best and final offers by Wednesday April 4," Duff and Phelps said in a statement on Friday.
"Bids have inevitably been the subject of widespread comment and speculation but at this stage it would be unwise to perceive any particular party to be a preferred bidder," the statement added.
"It is likely that a successful bidder will require a period of exclusivity to commit to final due diligence thereafter."
The administrators added in the statement published on the club's website that five bids had been scrutinised and two had since been rejected.
Rangers were forced into administration last month after running up nine million pounds in unpaid taxes since Scottish businessman Craig Whyte took an 85 percent stake in the club last May.