Rangers defender Madjid Bougherra has played down transfer talk linking him with a move to Hamburg.
Speculation had suggested that the Algerian had accepted a £25,000-a-week offer to link up with the Bundesliga outfit in a £5.25million deal when the transfer window reopens.
But Rangers say they have received no offer and the defender himself, who has been on World Cup duty with his country, insists he is happy with the Glasgow giants.
Bougherra told the Scottish Sun: "I'm aware of the speculation about Hamburg.
"It's only speculation right now and I will go on holiday then report back to Rangers.
"I've always said I'm happy at Rangers and any deal would have to be right for them."
Meanwhile, Rangers director Dave King has revealed he ditched plans for a takeover because of the 'excessive demands' of the club's bankers, Lloyds Banking Group.
The South Africa-based businessman has already invested £20million in the Scottish champions and had considered a buy-out.
"I looked at buying the club in the third financial quarter last year," he told the Daily Record.
"I felt the position adopted by the bank was inflexible and commercially aggressive against the club. Their demands were excessive.
"It provided no opportunity for me to sensibly come in and put money into the club knowing the new money would not be going into Rangers but to protect the bank's position. It would have been throwing good money after bad."
Rangers were taken off the market this month by owner Sir David Murray after a potential takeover by a consortium fronted by London-based property developer Andrew Ellis failed to materialise.
King, who has refused to rule out the possibility of further investment in the future, added: "I knew the Ellis deal would not be concluded as soon as it was announced. I have my own ability to do due diligence and that deal would only have happened under very silly circumstances.
"I don't think he's a silly investor but my assessment told me there was no possibility of Ellis structuring a deal that could have made sense for him."