Newcastle United have told Rangers they will need to pay a £1million-plus loan fee to sign Jacob Murphy this summer, Football Insider understands.

As revealed by this site, the Gers have made an approach for the 25-year-old but have been joined by Sheffield Wednesday, Nottingham Forest and Stoke City in the hunt to sign him on a season-long loan deal.

A recruitment source has told Football Insider that Newcastle are demanding that interested suitors cover the winger’s wages of around £40,000-a-week as well as splash out a seven-figure fee to land him.

The former Norwich City star has entered the final 12 months of his contract on Tyneside but Newcastle are willing to give another temporary move the green light after spells at West Brom and Sheffield Wednesday.

Murphy, who can play on either wing, spent the whole of last season at Hillsborough and made a total of 44 appearances, with nine goals and six assists under his belt.

He scored four goals in the Owls’ final five Championship games and his fine form has caught the eye of Rangers boss Steven Gerrard.

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The Gers are looking to strengthen their attacking options further after the arrival of Kemar Roofe and Cedric Itten, while Ryan Kent’s future is in doubt as Leeds United ready an improved bid for the winger.

Murphy has played a total of 41 times for Newcastle, with just one goal to his name.

However, his last competitive appearance for the Magpies came in a 2-0 FA Cup defeat to Watford in January 2019.

In other Rangers news, a big-name Ibrox star may have ‘kicked his last ball’ for the club.