Rangers manager Steven Gerrard

Brentford have joined Rangers, Celtic and West Brom in the race to sign Peterborough United goal machine Ivan Toney this summer, Football Insider can reveal.

Toney is set to quit the League One outfit this summer for a bumper fee after a 26-goal campaign that has got top clubs keen to strike a deal.

A recruitment source has told Football Insider that west London-based Brentford are also keen on Toney whether they get promoted or remain in the Championship next season.

The Bees swept Reading aside 3-0 last night to climb to third in the table and to within two points of the automatic promotion places.

As revealed by Football Insider last week, Peterborough are holding out for an initial £5m price that could soar to £8m with add-on costs.

Director of football Barry Fry revealed a £4m bid from New York Red Bulls has been turned down flat as he seeks a bidding war to secure a club-record sale.

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The fee could be hiked up due to the level of interest in the player, although Fry’s stated hopes of a £15m deal are fantasy.

Significantly, Rangers and Celtic would not be in a position to make a move for Toney until they know for sure what is happening to their own star strikers Alfredo Morelos and Odsonne Edouard.

As for West Brom and Brentford, their budgets will be determined by which league they are playing in next season.

As for Toney himself, he wants to play at a higher level as he eyes the biggest move of his career.

He has just completed the best season of his career, netting 24 league goals – nine more than anyone else – among 26 in all competitions.

In two seasons since joining Peterborough from Newcastle United, Toney has scored 49 goals in 94 matches as well as provided 15 assists.

In other Rangers news, a journalist has waxed lyrical to Football Insider as the club finalise “outstanding” new signing.

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