The Rumour Mill: Thursday's football news and gossp Published on Thursday 8 March 2012 11:23 It was another day of drama at Ibrox yesterday with the Rangers" administrators coming out with dire warnings over the immediate future of the club should it not strike a deal with players over wages or a buyer is not found quickly. Rangers" administrators Duff and Phelps warned that the club will not be able to complete its fixtures unless cuts to wages are made or buyer is found If a deal over wages is not achieved and the club is not sold then across-the-board redundancies are expected at Ibrox. Administrators have confirmed that there are three interested parties looking to take control of the club before the March 16 deadline set by the administrators. Rangers also confirmed that the club will not be eligible to play in Europe next season as there is "no realistic prospect" of the club emerging from administration by the March 31 deadline set by UEFA. Former Rangers director Paul Murray, who is leading a consortium of "Blue Knights," is expected to make a conditional offer for the club. Rangers director Dave King yesterday released a statement which argued that the club going into liquidation was now unavoidable. A Friday deadline has been set for Rangers players to decide whether or not to take pay cuts ranging from 25% to 75%. Ally McCoist will meet with the three parties interested in taking control of Rangers alongside club administrators Duff and Phelps. Prospective buyer Dave King says Rangers will need at least £50m to stabilise the club for three years - even if they are liquidated and emerge as a new company. Record King and Murray set for court battle over £20m investment Rangers director Dave King says he will launch a court action against David Murray in a bid to retrieve the £20m he invested in Rangers 12 years ago. King says the financial condition of the club was not fully disclosed to him at the time that the investment was made and that he felt "deceived." Celik set for return to former club Freed Mervan Celik say he has no regrets about joining Rangers after he was released by the club following their slide into administration. The 21-year-old is set to return to GAIS Gothenburg. Celtic enter Forster talks The Parkhead club have put a deal to the on loan Newcastle keeper and his representatives this week with a view to acquiring him on a three or four deal. Talks with the 23-year-old are expected to continue over the coming weeks. Celtic keep tabs on Israeli midfielder The Parkhead club are reported to be scouting Wisla Karkow's Maor Melikson who has broken into the Israeli national side since making the switch to Poland. The 27-year-old impressed Celtic scout John Park fuelling rumours that he could be a summer signing target for Neil Lennon's side. Scotland Under-21 defender Alex Pearce is to switch allegiances to the Irish national side Dundee have signed Mark Fotheringham until the end of the season Scotland have dropped to 51 in the FIFA rankings following their 1 - 1 draw with Slovenia