Rangers may have to lower their asking price for striker Alfredo Morelos now they've failed to qualify for the Champions League, A Bola reports.

What's the latest transfer news involving Alfredo Morelos?

The report discloses that Porto want to sign the Colombian striker, but so far Rangers' €15m (£12.7m) asking price has been too much for the Portuguese side.

Now the report reveals that the Gers may need to lower their asking price for the forward after their exit from the Champions League qualifiers, which A Bola argues will make a late window departure more likely. 

What happened in Rangers' Champions League qualifier?

Rangers lost 2-1 in midweek to Swedish side Malmo, ending their chances of reaching the Champions League group stages as they lost 4-2 on aggregate.

Morelos did his best to help Rangers get through, giving the Ibrox side the lead on the night, but two early second-half goals from Malmo ended the tie, and now Rangers face the prospect of a Europa League qualifier.

Enter Giveaway

Why would Morelos swap Rangers for Porto?

Porto can offer Morelos something that Rangers can't, and that is the prospect of playing in the Champions League. The 25-year-old has yet to play in the biggest club tournament in European football.

As Porto are already in the draw for this season's tournament they can give Morelos the chance to feature against some of the biggest teams in the continent.

A Bola reports that there is something else that Porto are looking to offer the striker - better wages than he currently earns at Rangers. Only time will tell if that will be a factor in Morelos' future.

Do Rangers need to cash in on Morelos?

Rangers look to have a big decision to make on Morelos' future. There is little doubt that when he is at his best, he is the number one striker at the Ibrox club. He showed that with his goal against Malmo in midweek.

There are other options available up-front though. Fashion Sakala has only just begun his Rangers career, Cedric Itten is available and Kemar Roofe, who missed the game against Malmo, scored 18 goals last season - one more than Morelos.

With Rangers exiting the Champions League, the club have missed out on the chance to make a lot of money, and they could therefore be tempted to cash in on Morelos. There are only two years left on his contract, so this could be the last time that the Gers will be able to make big money on him.

He has been such an important player for Rangers though - especially in Europe, where he has scored 24 goals - that he would need to be replaced with a striker of similar abilities.