Rangers have reportedly seen a fresh approach for Fares Ghedjemis rejected, with Frosinone remaining determined to keep hold of the highly-rated winger despite growing interest from Scotland.
Italian outlet AlessioPorcu.it reports that Rangers have had an offer worth more than £8 million (€9 million) turned down as the Serie A club continue to resist interest in one of their prized assets.
The report claims Celtic have also failed with an offer in excess of €7 million, leaving both Old Firm clubs frustrated in their pursuit of the Algeria international.
Rangers weigh up record purchase
According to the same report, Frosinone would only consider selling Ghedjemis if they received a bid in the region of €15-20 million, a valuation that would make him comfortably the most expensive signing in Rangers' history should the Ibrox club decide to meet it.
The club's stance reflects a change in strategy following new investment, with president Maurizio Stirpe previously indicating Frosinone are no longer under pressure to cash in on their best players.
Instead, manager Massimiliano Alvini reportedly views Ghedjemis as central to the club's hopes of avoiding relegation following promotion to Serie A.
Rangers keen on exciting Algerian winger Ghedjemis
The 23-year-old enjoyed an outstanding campaign last season, scoring 15 goals from a wide attacking role as Frosinone secured promotion, performances that have inevitably attracted attention from clubs across Europe and travelled to the FIFA World Cup with Algeria in the summer.
Rangers have been linked with Ghedjemis throughout the summer as Derek McInnes continues to reshape his squad, although Inside Ibrox understands the club have become increasingly cautious over the financial demands involved in any potential deal.
McInnes has already strengthened significantly this window, adding Lawrence Shankland, Ross McCrorie, Ben Godfrey, Ivor Pandur, Dan Neil, Cammy Devlin, Olwethu Makhanya and Vanja Dragojević, while Japanese forward Daisuke Yokota is expected to become the club's ninth signing.
Given those additions, Rangers are understood to be carefully assessing where best to allocate their remaining budget before the transfer deadline.
The Italian club meanwhile, believe Ghedjemis can play a leading role in their bid to remain in Serie A and have sent a clear message to interested clubs that only an exceptional offer will persuade them to change their position.
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