Rangers are looking to make Emmanuel Fernandez the most expensive outgoing transfer in the history of the club.

Fernandez arrived the Ibrox as a little-known figure from English League One club, Peterborough United last summer.

The defender has, however, caught the attention of the likes of Chelsea, Arsenal and Bayern Munich following his impressive start to life in Scotland.

The new Super Eagles invitee has made 21 league appearances for the Gers, scoring five times.

According to TEAMTalk, Rangers will only accept a bid in the region of €40m for Fernandez.

The 24-year-old has a long-term contract that runs until 2029.