Coventry have reached an agreement to sign young attacking midfielder John Fleck from Rangers.
The 20-year-old, who spent time on loan at Blackpool last season, is one of a host of players who has refused to transfer his contract to the Gers' newco.
Reports in the media on Wednesday morning suggested the Ibrox club were taking legal action against Fleck over his move but Rangers have rejected such claims.
Fleck's former team-mates Kyle Lafferty, Steven Whittaker and Jamie Ness have all agreed moves to new clubs on free transfers but Gers claim to have reached an agreement with the Sky Blues over a transfer.
A statement on their official website read: "An inaccurate media report this morning suggests the club is taking legal action against John Fleck over his move to Coventry City.
"Both clubs have in fact reached agreement for the transfer of the player and Coventry have recognised Rangers' rights as part of the process.
"A formal announcement will be made later today."
Scotland Under 21 international Fleck notched up 41 appearances during his time at Ibrox.
The youngster joins the Sky Blues as they prepare for life in League One this season following their relegation from the Championship.