Another Rangers transfer window will revolve around Alfredo Morelos and whether he stays or goes.

The future of the controversial Colombian is a huge story and an ever-evolving one.

It’s been further distorted by the Covid-19 pandemic, which has strangled club budgets and forced Rangers to reassess their valuation of their prize asset.

Ibrox sources have told Football Insider that Rangers’ hopes of a £25-30million fee for Morelos this summer have evaporated following recent events.

The likelihood is they would do well to get half of that sum, and should a £15m-plus offer be tabled it is hard to see the board rejecting it.

So, what is the current state of play? Is the man the fans call “Alfie” or “‘Fredo” going to be wearing a Light Blues shirt next season?

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The truth is no-one knows. Not even Steven Gerrard and Ross Wilson. Or the player himself.

All Rangers can do is plan thoroughly for all scenarios and not get caught short if there are late developments in a summer transfer window expected to stretch until the end of September. At least.

At this stage, Football Insider has been told that Rangers chiefs are expecting Morelos to be transferred.

It’s not nailed-on. Far from it. But it’s more likely than him staying.

Wilson and his recruitment team, in consultation with Gerrard, are assessing two striker profiles: one who would be a first choice to directly replace Morelos and an impact forward who would be tasked with a broadly similar job to January loan arrival Florian Kamberi.

A deluge of centre-forward names have been linked with Rangers, including by this site.

The likes of Liverpool’s Rhian Brewster, Bordeaux’s Josh Maja, Livingston’s Lyndon Dykes, Dundee United’s Lawrence Shankland, Sint-Truiden’s Mohamed Buya Turay and Charlton Athletic’s Lyle Taylor have all been discussed internally.

Some of those deals are more complicated and expensive than others.

Few of them would offer the all-pervasive goal threat of Morelos, who’s capable of not just 30 goals a season but 40.

Brewster, still only 20, certainly will one day, but he is wanted by top Premier League clubs as well and it will be Jurgen Klopp’s call whether he will go on loan again next season.

A name that is increasingly being mentioned behind the scenes at Rangers, Football Insider is told, is Peterborough goal machine Ivan Toney.

He ticks an awful lot of boxes – 24, sharp, quick, physical, two outstanding League One seasons behind him that have yielded 49 goals, and, most crucially of all, available.

Peterborough’s failure to secure promotion after the curtailment of the season earlier this week is a gamechanger.

Director of football Barry Fry – no shrinking violet, he – has already gone public to say Toney can “definitely” leave.

The price? Fry claimed that it will cost £15million to prise the goal machine from his club and revealed agents had told him of interest from Rangers as well as Celtic.

Football Insider has been told Championship promotion favourites West Brom are also keen on Toney regardless of whether they go up.

As for the supposed £15m valuation. That’s a transparent attempt by Fry to drive up the price.

The reality is Peterborough will sell their prize asset for far less.

Rangers are keen but it will be a very difficult deal to pull off and the clubs competing for Toney’s signature have clout and cash.

Expect plenty of twists and turns in the coming weeks. And, more striker links to emerge.

Bears: be braced.

In other Rangers news, it can be REVEALED that the club have agreed signing of Premier League sensation but deal may not complete until August.