Rangers 'target' Mostafa Mohamed has been subject to two offers from Europe but Egyptian club Zamalek want £5million to secure his services.
The twice-capped hitman won the top scorer award at the Under 23s African Cup of Nations last month as he fired his nation to glory.
Reports emerged on the morning of the Betfred Cup Final that Egyptian TV pundit Haytham Farouk had claimed Rangers had been monitoring the striker's situation and set to make a transfer swoop.
But clubs from Belgium and France have already made bids for Mohamed, according to Zamalek president Mortada Mansour.
And they have insisted he won't be sold for less than £5m.
Any deal would represent a major outlay for the Ibrox men and the second biggest transfer fee of recent years after the £7m purchase of Ryan Kent .
He said: "We have received two offers from clubs in France and Belgium. Both were rejected. We know there is also interest in him from other clubs in Europe.
"We have no intention of selling Mostafa unless we get an offer that is impossible to turn down.
"He is an international player who can score goals and is a huge asset for us. We intend to keep him at the club for as long as possible."
Rangers main striker Alfredo Morelos is likely to be subject to interest in both the January and summer windows after a 27 goal haul so far this season.
