Rangers have thrown out a low-ball £2million offer from Watford for Borna Barisic.
The English Premier League strugglers are looking to add a left-back this month, and have also been linked with Josh Doig of Hibs.
They made an official offer for Barisic of around £2m as Claudio Ranieri looks to strengthen his Hornets squad.
But that is well short of the £5m valuation Rangers have slapped on one of their star men, and Watford coming back with a further £1.5m in bonuses didn't shift the needle.
The sale of Nathan Patterson for a fee of up to £16m has eased any financial pressure on the Ibrox club to sell, with Gio van Bronckhorst to be allowed to reinvest a portion of that fee this month.
It's therefore understood that a deal for Barisic is now dead in the water as Watford pursue other targets to solve their defensive woes.
It's been a problem position all season with former England international Danny Rose failing to impress.
