Rangers are waiting to hear back from Liverpool after rejecting the Anfield club's offer for teenage defender Danny Wilson.
Rangers confirmed Liverpool's interest in the 18-year-old almost two months ago and manager Walter Smith has now revealed the Ibrox club turned down a concrete offer.
Smith, who has been linked with a move for Middlesbrough striker Lee Miller, told the Sunday Post: "We are currently waiting to hear back from Liverpool after we rejected their original £2million offer."
Wilson has refused the club's attempts to extend his contract, which has one year remaining, and Rangers would receive compensation of just several hundred thousand pounds should he leave next summer.
Rangers expect the centre-back, who made 25 first-team appearances last season, to move on but they are holding out for more money for the Scottish Football Writers' young player of the year.
Rangers will point to other transfer deals for young players in the Barclays Premier League such as Arsenal's £5million purchase of then 17-year-old Aaron Ramsey from Cardiff in 2008.
Some reports claim Manchester United paid Fulham up to £12million for 20-year-old defender Chris Smalling, who had played less first-team games than Wilson when his summer switch was set up in January.
Rangers chief executive Martin Bain has previously admitted that the club rejected approaches for Wilson from two Barclays Premier League clubs in January and more have since made their interest known, with Tottenham strongly linked with a move.
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