It has been very much one way traffic with the Scottish Champions being forced to undergo something of a fire sale by their bankers.
The debt-stricken club have already parted with stars Kris Boyd, Kevin Thompson, Nacho Novo, DaMarcus Beasley, Stevie Smith and Danny Wilson with more set to follow.
In fact, things are so bad that Walter Smith has only been able to take 13 senior players on the club’s Australian tour and is desperate for replacements.
So who is on his radar?
The Gers are known to be keeping tabs on St Ettienne’s £2.5m rated defender Yohan Benalouane and Walter Smith is ready to make the 23-year-old his first paid-for signing in more than two years.
Rangers have also been linked with Australian striker Brett Holman. Assistant manager Ally McCoist has publicaly expressed his admiration for the 26-year-old, who scored two goals for the Socceroos during the World Cup, but no contact has been made with his club AZ Alkmaar over a possible transfer.
Finally, Norwegian youth international Krister Wemberg has been on trial at Ibrox all week. The 18-year-old defender has already spent time with Fulham and Everton and currently plies his trade with Moss FK of the Norwegian second division.
Follow me on Twitter: www.twitter.com/paulstephen195
Click here to comment on this articleor
Give us feedback on your Football Transfer Tavern experience