Glasgow Rangers have been warned not to overspend on one reported transfer target who comes with an eight-figure valuation.

The Lowdown: Rangers monitoring Stewart

The player in question is Scotland striker Ross Stewart, in whom the Ibrox giants reportedly have an interest in bringing back to the Premiership, according to Football Insider.

Sunderland value the marksman at £10m and the player is currently set to be out of contract in six months' time, although the English Championship club have the option to extend that by 12 months if so desired.

The 26-year-old has excelled at the Stadium of Light following his January 2021 move, netting 35 times in 73 games for the Black Cats, who he helped to promotion earlier this year. It's that form which led to him being dubbed "the best forward in the division" by ex-Portsmouth manager Danny Cowley.

The Latest: Rangers warned over Stewart

Despite Stewart's excellent record at Sunderland, though, former England goalkeeper Paul Robinson believes that Rangers would be taking a massive risk in paying £10m or more for the striker.

The Sky Sports pundit told Football Insider: "That’s a lot of money for Rangers. It is a huge amount of money for a player who has done well in League One and the Championship. That is the sort of money they spend on two players.

"I think it would be a big risk because Stewart is untried and untested at that level. Yes, he has played in the Scottish Premiership and yes, he has ability. But, you would want to sign a player who is guaranteed to be a success for that amount of money.

"They could buy two or three tried and tested players for that price. I would not rush to push that one through if I was Rangers."

The Verdict: Patience could be key

Robinson does make some valid points about Stewart's lack of a track record at a high level - he has never played in the Premier League, while his 41 appearances in the Scottish top flight yielded only nine goals.

However, the question for Ross Wilson and co might be how desperately do they need to sign a new striker in 2023.

Doubts continue to abound over the future of the talismanic Alfredo Morelos, whose contract at Ibrox expires next summer and shows little sign of being renewed so far.

Perhaps £10m would be a lot for Rangers to spend on Stewart, but with the Scotsman's own contract situation far from resolved, it could be worth keeping a close eye on that over the coming months to see if an opportunity for a potential bargain arises.