Peterborough chairman Barry Fry has claimed that Rangers would not be able to afford their star defender Ronnie Edwards.
Reports had suggested that Michael Beale's side were interested in signing the Englishman after having him scouted on a number of occasions.
It is understood that while Rangers did scout the youngster, they are not interested in signing him this summer transfer window.
Edwards is also being chased by a trio of Premier League clubs with Crystal Palace, West Ham and Bournemouth all vying for his signature.
Posh chairman Fry told the Daily Record: “Rangers have been to a lot of our games but I have not spoken to anyone directly from the club.
“That means nothing, they could be watching the opposition or some other player. There have been some suggestions they are going to bid for him but they haven’t bid for him yet. I’m not even sure if they have the money to bid for him.
“Ronnie is an exceptional player and he will go. He is only 20 and he has played 19 times for England under-19s and 20s.
“He is the only player outside of the English Premier League in either of those two squads. He was part of the under-19 European Championship-winning team, played all four games at the World Cup at under-20 level.
“We’ve had plenty of interest. We have turned down a few bids from Premier League clubs because they haven’t been big enough. We are in no rush to sell him. He has two years left plus an option. We won’t stand in anyone’s way if the offer is right but so far none of the offers have been right.”
Meanwhile, Rangers manager Michael Beale praised his side for digging deep and finding the answers in Switzerland after James Tavernier’s equaliser sent them into the Champions League play-offs.
Last season’s cinch Premiership runners-up will face PSV Eindhoven next Tuesday at Ibrox after James Tavernier’s equaliser sealed a 1-1 draw against Servette and a 3-2 aggregate win in the third qualifying round.
Beale told Rangers TV: “We didn’t do well enough first half, I thought we were passive and obviously they scored and the crowd were up in the stadium.
“We had a wonderful chance ourselves with Dani and obviously he misses and we go in at half-time and had to have a strong conversation.
“We were much better second half, we got the full-backs higher. Borna, a fantastic cross, and Tav, something we have seen for a number of years, it was a wonderful goal.”
