Ally McCoist has confirmed he is planning to hold talks with Scott Allan, but is unsure if Rangers will win the chase to sign the Dundee United midfielder.
Skysports.com revealed earlier this week that Rangers, along with Old Firm rivals Celtic and West Bromwich Albion, were set to discuss a deal for Allan.
West Brom have agreed a fee for the 20-year-old, believed to be in the region of £400,000, and are currently favourites to land Allan's signature.
Allan is out of contract at Tannadice at the end of the season and talks regarding an extension have broken down, leading to his likely departure in January.
Gers boss McCoist is aware of the interest in Allan and is waiting to see if he can convince the player to move to Ibrox ahead of other options.
Time will tell
"We've spoken to Dundee United to let them know our intentions and now we need to speak to young Scott and his representatives," said McCoist.
"He is still United's player but I would have to say he is a very, very good one and in terms of young talent in the country, he's up there with anybody.
"Time will tell (if Rangers can compete financially for Allan's signature) but that's where we are.
"Teams at the bottom end of the Premiership and in the Championship are more than capable of outbidding us and offering higher wages.
"That's just a fact of life but I think we would perhaps be in a position to go to Dundee United and see what we can offer them. Again, time will tell on that one."