Florian Kamberi is believed to have turned down a 2-year deal at Rangers and decided to join Swiss side St Gallen.
Kamberi scored one goal in nine appearances for Steven Gerrard's side last season after joining on loan from Hibs, and the Rangers boss was keen to add him to his squad for the new campaign.
With Jermain Defoe injured and intense speculation surrounding the future of Alfredo Morelos, Gerrard is eager to strengthen upfront.
Kamberi, however, appears to have ruled out a second spell with Gerrard's side.
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Accoring to the Scottish Sun, the 25-year-old was keen on returning to Ibrox but wouldn't accept the terms offered by Rangers.
Kamberi had upset Hibs fans by calling his Ibrox loan spell a "dream" move, and Easter Road boss Jack Ross made it clear the forward had no future at the club.
Gerrard, meanwhile, was pleased with his team's performance in the 1-0 win against Aberdeen on Saturday. He told Rangers TV : "I thought the players right through the team were outstanding today. It's another clean sheet which has to be our foundation. Clean sheets will take us where we want to get to.
"I think to a man everyone has come to a difficult place today and performed ever so well. We deserve our victory.
"The only thing if you're picky is we need to go and take games away from teams. At 1-0 can we go and get that second goal."
