Sporting director Ross Wilson has revealed Rangers and Everton have been locked in talks for weeks over Nathan Patterson 's departure.
The 20-year-old sealed a move away from Ibrox in a record-breaking £12million deal that will rise based on his achievements at Goodison Park.
Everton previously had a cut-price £5million deal kicked out by the club in the summer.
But Wilson has revealed that the English Premier League side continued to hold talks during the Premiership campaign.
He told the club website: "Nathan is supported brilliantly by his family and as Rangers fans, I know they are extremely proud of his Rangers achievements.
“In terms of the detail of the transfer, I have been in discussions with Everton chairman Bill Kenwright for a number of weeks. It has been a pleasure to deal with Bill - a man who represents his club with genuine class.
"It is true that there were previous discussions last summer but we were always clear that in our model players will only leave at the right time and for the right number.
“We have now established a significant club record and there will be even further financial incentives for Rangers as Nathan’s Everton career evolves.
“We were very clear in these discussions that Nathan is a player and person who we hold in the highest regard and the deal had to represent a club record for Rangers.
With key men like Joe Aribo and Glen Kamara being linked with moves south of the border, Wilson insists the club are willing to knock back bids as part of the player trading model at the club.
He added: “Since I joined the club, I’ve been clear that we would be strong in the market and our chairman and board have been prepared to reject some significant sums for our players, whilst we have all acknowledged that we would sell the right player at the right time for the right value.
"I must say in this case also, this is the correct destination."
On player trading, managing director Stewart Robertson added: “This is a deal which fits with our long-term, strategic vision for the club. We have been very clear that player trading is an important element of our business model but only when the circumstances suit Rangers."
