Rangers have revealed they could rebuild Ibrox in an ambitious project to increase capacity and regenerate the area around the stadium.

The club may seek to expand their home to a 70,000-capacity arena, according to reports.

In a statement, Rangers confirmed: “The club would like to inform its fans that it is currently assessing a number of proposals for the development and regeneration around Ibrox.

“At present, we are analysing three strategies which would enhance the development of the existing outline planning proposals for the Hinshelwood area to the south of the stadium.

“One of the strategies includes the total rebuilding of Ibrox Stadium while retaining the brick facade, the tradition and the integrity of the Bill Struth Main Stand.

“The club stresses that at this time it is assessing these proposals and no decisions will be reached imminently. Further details will be announced at the appropriate time.”

Ibrox could overtake Celtic Park and Hampden Park to become Scotland’s largest stadium, and increase Rangers’ potential revenue.

Rangers were previously granted planning permission for a major casino and hotel complex beside Ibrox when Glasgow was in the running for the UK’s first regional casino. The project did not go ahead when the vote went to Manchester last year.