Craig Whyte’s bid to take control of Rangers could well be completed before Christmas, according to the Press Association.

The Scottish tycoon is set to meet with current owner Sir David Murray for further talks, although no date or venue has been arranged yet.

Reports indicate that the 39-year-old, who made his wealth as a venture capitalist, is presently located in London but is due to travel to Scotland this week.

However, due to the severe weather — which has engulfed most of the UK — an air of uncertainty looms over any talks being held over the next couple of days.

The complex and lengthy due diligence process, which involves checking financial accounts of the club, are still in process, however once completed Whyte will decide whether or not to make a proposition for the SPL giants.

It is believed that everything is going as planned and a deal could be completed around the festive period.

Rangers fan Whyte revealed last month that he was considering making an offer for the Ibrox club and was in talks with Murray International Holdings.

It is understood that Whyte would control 75 per cent of the Murray’s shareholding while London-based property developer Andrew Ellis would managed the other 25 per cent. Ellis was previously involved in a failed bid earlier this year.

It is believed that Rangers’ debt of £27m would be completely eradicated while releasing a substantial amount of funds to improve the squad which Walter Smith would very much welcome.

A sum of £25m over five years has been quoted as being made available for team development — although Smith is unlikely to provided with a vast amount of money to spend in the January transfer window, even if a deal is concluded by then. (goal)